Egyptian e-commerce operations platform Fincart has raised an oversubscribed US$2.8 million seed round of funding to further develop its AI platform, expand its team, strengthen strategic partnerships, and accelerate its expansion across the MENA and African markets.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart provides an AI-powered operating platform that enables merchants to manage shipping, customer engagement, and cash advances through a single interface, integrating with more than 40 courier companies across Africa.
Its oversubscribed seed 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 leading MENA and Africa-focused investors. The fresh capital will be used to further develop Fincart’s AI platform, expand its team, strengthen strategic partnerships, and accelerate its expansion across the MENA and African markets. The company currently serves more than 450 merchants and has facilitated nearly EGP1 billion (US$20,000) in gross merchandise value.
“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,” Masry said.