Cairo-based e-commerce operations startup Fincart has raised $2.8 million in an oversubscribed seed round to strengthen its AI platform, expand into new markets and deepen partnerships across the Middle East and Africa.
The round was co-led by pan-African venture capital firm Launch Africa and Antler MENAP, with backing from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs and several regional investors.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart develops software that helps online merchants manage logistics, customer engagement and cash flow from a single platform.
The company integrates with more than 40 courier services, giving merchants access to one of Africa’s largest connected delivery networks without juggling multiple operational systems.
The funding will go toward expanding Fincart’s AI capabilities, hiring new talent, entering additional markets and securing more commercial partnerships. The company did not disclose its valuation or specify how the capital will be divided across those initiatives.
Fincart was built to solve a problem many online merchants know well. As businesses grow, they often end up using separate tools for shipping, payments, customer communication and order management, making day-to-day operations increasingly difficult to manage.
Masry and Ali say they encountered many of those same frustrations themselves, particularly around last-mile delivery and delayed cash-on-delivery settlements, before deciding to build a unified platform.
Beyond logistics, Fincart also gives merchants access to short-term working capital based on their sales performance.
Rather than lending directly, it provides the data and technology layer that connects merchants with fintech partners responsible for financing and settlements. By leaving lending to those partners, Fincart can expand its financial offering without taking credit risk onto its own balance sheet.
The platform has signed more than 450 merchants and enterprise customers, with referrals generating nearly 40% of new business. It has also processed close to EGP 1 billion in product gross merchandise value through its logistics and cash reconciliation platform.
The seed round follows an undisclosed pre-seed raise in January 2025 led by Plus VC, with participation from Plug and Play, Orbit Startups and Jedar Capital. That investment helped expand Fincart’s technology platform and courier network.
The company’s next phase of growth extends beyond Egypt. Although its logistics network already reaches more than 100 destinations, many of them across Gulf markets, the focus now is on attracting merchants throughout the wider Middle East and Africa rather than simply expanding delivery coverage.
Fincart’s latest raise reflects growing investor interest in the software that powers e-commerce behind the scenes rather than consumer-facing marketplaces.
As merchants across Africa and the Middle East work to improve efficiency and protect margins, startups that simplify logistics, automate operations and improve cash flow are drawing increased attention from investors.
The company is also part of a broader shift toward commerce infrastructure. Instead of competing with banks, lenders or courier companies, startups like Fincart are building platforms that connect fragmented services, giving merchants a simpler way to manage their operations from a single system.
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