Fincart Closes Pre-Seed Round to Transform E-Commerce Logistics

Fincart.io, an Egypt-based e-commerce logistics platform focused on supporting small and medium-sized businesses (SMBs), has completed its pre-seed funding round for an undisclosed amount. The round was led by Plus VC, with participation from Plug and Play, Orbit Startups, Jedar Capital, and other regional and international investors.

The funds will be used to enhance the platform’s technology, expand its courier network, and strengthen support for the e-commerce sector in Africa and the Middle East.

Since its launch in 2023 by Mostafa Elmasry and Nihal Ali, Fincart.io looks to tackle unreliable shipping issues that hinder SMB growth by offering affordable, efficient delivery solutions.

“At Fincart.io, our strategy is to empower small and medium online sellers to scale through a seamless platform,” Mostafa Masry, co-founder and CEO of Fincart.io, tells StartupScene. “They can connect their website, manage orders, access Africa’s largest courier network, and unlock working capital. Our 4x year-over-year growth and strong organic referrals prove stand as testament that we are solving critical challenges for online sellers across the region.”

The e-commerce market in Africa and the Middle East is projected to reach $75 billion by 2028, with over 4 million SMBs requiring reliable shipping solutions. In 2023, the MENA e-commerce market is expected to surpass $50 billion, making efficient logistics a critical factor for SMB profitability.