Egyptian e-commerce technology startup Fincart has raised $2.8 million in seed funding to expand its AI-powered merchant operating system across Africa and the Middle East, giving more businesses access to tools that simplify online commerce and improve daily operations.
The oversubscribed funding 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 other regional investors.
The investment marks an important step for the company as it prepares to grow beyond Egypt. The new capital will be used to expand Fincart’s commercial and engineering teams, speed up product development, strengthen strategic partnerships and support its planned entry into new markets from 2027.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart has grown from a logistics management platform into a complete operating system that helps online merchants manage shipping, financing, customer engagement and business operations from a single platform.
Building Better Tools for Online Merchants
The latest investment comes about 18 months after Fincart raised an undisclosed pre-seed round and reflects growing investor confidence in businesses that provide the technology behind e-commerce rather than operating online stores themselves.
Today, Fincart integrates with more than 40 shipping providers across Africa, allowing merchants to manage deliveries through one interface while also giving them access to short-term working capital based on their sales performance.
More than 450 merchants and enterprise customers are already using the platform, which has processed nearly $20 million in merchandise value through automated shipping and cash-on-delivery reconciliation.
Chief Executive Officer and Co-founder Mostafa Masry said the funding will help the company move faster in achieving its long-term goals.
“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,” he said.
Masry added that the company’s ambitions go beyond providing software. He said the investment will allow Fincart to strengthen the wider e-commerce ecosystem by expanding partnerships, improving its AI-powered platform, growing its infrastructure and accelerating its expansion across Africa and the Middle East.
The company’s platform was developed after its founders identified common challenges faced by online merchants, many of whom rely on several disconnected systems to manage deliveries, customer service, marketing and payments. By bringing these services together into one platform, Fincart aims to improve efficiency while giving businesses greater control over their operations.
Co-founder and Chief Operating Officer Nihal Ali said the company continues to build its products around the real experiences of merchants.
“Everything we build starts with sitting down with merchants and understanding where they’re losing time, money, or customers,” she said. She added that Fincart was created to replace multiple disconnected tools with a single control panel that helps businesses sell more, deliver faster and manage customers more efficiently.
Supporting Africa’s Growing Digital Economy
Fincart’s expansion comes as Egypt’s digital commerce sector continues to grow rapidly. The country’s e-commerce market is projected to reach approximately $20.15 billion by 2031, creating greater demand for technology that helps businesses manage increasingly complex operations.
The market also remains heavily dependent on cash-on-delivery payments, making automated reconciliation and shipping management especially valuable for small and medium-sized businesses that often spend significant time handling manual processes.
Fincart generates revenue through shipping services and subscription-based software plans priced between $31.20 and $141.96 per month, depending on the features merchants need. The company was founded to simplify shipping and financing for social sellers, small and medium-sized e-commerce businesses and marketplaces, helping them grow more efficiently.
For investors, the company represents an opportunity to strengthen the digital infrastructure that supports thousands of businesses across the region.
Lina Kacyem, Investment Manager at Launch Africa, said Egypt offers one of the continent’s strongest opportunities for commerce infrastructure businesses.
“Egypt’s e-commerce market is one of Africa’s most compelling infrastructure opportunities: high volume, cash-on-delivery dominant, and deeply underserved at the SME level,” she said.
As Fincart prepares for regional expansion, the new funding positions the company to deliver technology that can help merchants simplify operations, improve efficiency and access the financial tools needed to scale. With demand for digital commerce continuing to rise across Africa and the Middle East, the company is aiming to play a bigger role in supporting businesses as they grow in an increasingly competitive online marketplace.
