The industry veteran also invested an undisclosed amount into the Egyptian logistics startup.
Bosta, an Egyptian logistics startup, announced that Ken Allen, former CEO of DHL Express Global, has joined the company as an investor and board member. Bosta, which aims to become the leading e-commerce delivery platform in the Middle East, has raised over $20 million in funding to date and delivered over 7 million parcels in 2022 for approximately 10,000 merchants.
Allen has an incomparable track record in the logistics industry, having successfully led the transformation of Deutsche Post's DHL Express unit, a €15 billion revenue division, between 2009 and 2018. He believes that Bosta's service offering allows more customers to access cost-effective delivery, thereby widening the market for SMEs and large customers alike. "The continuous search for a low cost, high-quality digital solution for last mile delivery has been critical to the ongoing success of the e-commerce industry,” Ken Allen tells StartupScene. “At Bosta we have found a scalable model that does just that, and we are proving its capability in two key markets."
Bosta has introduced its fulfilment service and expanded its operations by penetrating the Saudi Arabian market, focusing on underserved areas and the long tail of SMEs, which represent 70% of the Saudi market. Mohamed Ezzat, CEO, and Co-Founder of Bosta expressed his excitement to have Allen join the team and believes that Allen's leadership and experience in the logistics industry will be invaluable as they continue to expand Bosta's footprint beyond Egypt and into new international markets.
Bosta aims to facilitate all the processes that accompany the e-commerce experience and make them accessible to everybody. This is reflected in all of its services, whether it's shipping, fulfilment, or the new services that are planned for launch in 2023.
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