Fincart closes USD 2.8 mn seed round

Fincart closes oversubscribed USD 2.8m seed round led by Launch Africa and Antler Menap

Cairo-based e-commerce operations startup Fincart has closed an oversubscribed USD 2.8 million seed funding round co-led by pan‑African VC fund Launch Africa and Antler Menap. The round also included participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs and other regional investors, the company said. Fincart will use the capital to develop its AI platform, expand its team, enter new regional markets and secure additional partnerships, co‑founder and CEO Mostafa Masry said.

“We generally work with partners in fintechs that provide this cash advance or settlement. We are the data layer that sits in between the lenders and the merchants,” Masry said. “In that way, we are not a financing entity ourselves.”

Fincart, co‑founded in 2023 by Masry and COO Nihal Ali, offers an AI‑powered platform for e‑commerce merchants that bundles shipping management, short‑term cash advances against sales, and customer engagement tools. The startup integrates with more than 40 couriers — a network it describes as the largest integrated courier network in Africa — and currently offers shipping to over 100 destinations, with a footprint skewed toward Gulf markets.

• Funding: USD 2.8 million seed round (oversubscribed)
• Lead investors: Launch Africa and Antler Menap
• Other investors: Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and others
• Founders: Mostafa Masry (CEO) and Nihal Ali (COO)
• Founded: 2023
• Merchants onboarded: more than 450
• Referral rate: nearly 40% of new clients
• Enabled product GMV: close to EGP 1 billion

Ali described the operational pain points that inspired the business: merchants face poor last‑mile delivery and delayed cash‑on‑delivery reconciliation, and are “juggling five or six disconnected tools just to run their business, shipping, payments, customer engagement, none of which talk to each other.” Fincart addresses those frictions by serving as a technology and data layer that connects merchants, logistics providers and financing partners.

This is Fincart’s second fundraising event. The company previously closed an undisclosed pre‑seed round in January 2025 led by Plus VC, with participation from Plug and Play, Orbit Startups and Jedar Capital. Proceeds from that round were deployed to scale the startup’s technology platform and courier network across the region.

By the numbers, Fincart says it has onboarded more than 450 merchants and enterprise clients, with nearly 40% of new clients acquired via referrals, and has handled close to EGP 1 billion in product gross merchandise value through its shipping and cash‑reconciliation workflows.

Looking ahead, Masry said the company’s 2027 strategy emphasizes geographic expansion of its merchant base rather than only increasing shipping reach. “We aim to target merchants from outside of Egypt and across the region generally,” he said, signalling a push to convert the platform’s Gulf‑heavy shipping footprint into wider commercial operations across MENA and neighbouring markets.