Egyptian e-commerce technology startup Fincart has raised an oversubscribed $2.8 million Seed funding round to accelerate the development of its AI-powered merchant platform and expand 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 other regional investors. The funding follows Fincart's pre-Seed round in early 2025, which was led by Plus VC.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart has evolved from a last-mile logistics platform into an AI-powered operating system for e-commerce merchants. The platform integrates with more than 40 courier companies across Africa, enabling businesses to manage shipping, customer engagement, cash-on-delivery reconciliation and short-term working capital through a single interface. The company also offers AI-driven tools to improve customer retention, automate workflows and increase online sales.
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Fincart currently serves more than 450 merchants across sectors including fashion, cosmetics, electronics and accessories. The company says it has facilitated nearly EGP 1 billion in gross merchandise value while growing without spending on marketing, with almost 40% of new customers coming through referrals. The new funding will support product development, expand commercial and engineering teams, strengthen strategic partnerships and prepare the company for expansion into new African and Middle Eastern markets beginning in 2027.
Fincart is addressing one of the biggest operational challenges facing e-commerce businesses across Africa and the Middle East, where fragmented logistics, cash-on-delivery payments and disconnected software tools continue to limit growth. In many markets, merchants rely on multiple courier companies, manual reconciliation processes and separate platforms for customer communication, inventory and payments. By combining these functions into a single AI-powered operating system, Fincart aims to reduce operational complexity while improving delivery performance and cash flow.
The company's focus on cash-on-delivery is particularly relevant in Egypt and much of the region, where it remains the dominant payment method despite the growth of digital payments. Investors are increasingly backing startups that provide the underlying infrastructure powering online commerce rather than consumer-facing marketplaces.
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Fincart's referral-driven growth and expanding merchant base suggest strong product-market fit, while its integration with more than 40 logistics providers positions it to benefit from the continued expansion of e-commerce across Africa and the Middle East. As online retail matures, platforms that help merchants operate more efficiently are likely to become an increasingly important part of the region's digital commerce ecosystem.
Read the original article on Daba Finance.
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