Cairo's Fincart Raises $2.8 Million to Expand AI E-Commerce Platform

Cairo-based Fincart has raised $2.8 million in an oversubscribed seed funding round to accelerate the development of its AI-powered operating system for e-commerce merchants and support its expansion across the Middle East and Africa.

The round was co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and several other investors focused on the MENA and African markets. It follows a pre-seed round led by Plus VC, with participation from Orbit Ventures, Plug and Play and other regional investors.

Founded to help merchants manage last-mile delivery and cash-on-delivery reconciliation, Fincart has evolved into an AI-powered operating system that integrates with more than 40 shipping providers, creating what the company says is the largest integrated logistics network of its kind in Africa. The platform also offers short-term cash advances based on merchants' sales and AI-powered tools for customer engagement and sales growth.

Today, the platform serves more than 450 merchants and enterprise clients across sectors including fashion, cosmetics, accessories and electronics. According to the company, nearly 40% of new customers come through referrals, while it has spent nothing on marketing over the past three years. Fincart says its automated workflows have facilitated the shipment and delivery of products worth nearly $20 million in gross merchandise value.

"We are grateful for the confidence our investors have placed in our vision, product, and long-term goals, and their support will enable us to accelerate our mission of transforming e-commerce operations across the region," Mostafa Masry, CEO of Fincart, said in a statement.

The new funding will be used to expand Fincart's commercial and technology teams, invest in product development and establish new commercial partnerships across Egypt, while laying the groundwork for expansion into additional markets in 2027.