• Egypt-based e-commerce operations platform Fincart has raised an oversubscribed $2.8 million Seed round, 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.
• 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.
• 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 EGP 1 billion in gross merchandise value.
• In January 2025, Fincart closed a pre-Seed round  for an undisclosed amount, led by Plus VC along with other investors.

Press release

Fincart, the AI-powered operating system for e-commerce  merchants, today announced the successful close of its oversubscribed seed funding round. This  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 seed round follows Fincart's pre-seed funding round,  led by Plus VC with participation from Orbit Ventures, Plug and Play, and other regional investors. 

Fincart, which started as a platform connecting e-commerce merchants to last-mile shipping  providers, optimising delivery performance and improving merchants' cash reconciliation cycles,  has grown into a fully AI-powered operating system for e-commerce merchants. The platform lets  merchants integrate with more than 40 shipping providers (the largest integrated network in  Africa), access short-term cash advances based on their sales to boost growth and improve cash  flow, and use agentic tools to retain users, drive engagement, and boost online sales.  

Commenting on the fundraising announcement, Mustafa Masry, CEO, Fincart, said, "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.” 

Fincart has grown organically by building a product that truly addresses the operational  challenges faced by e-commerce merchants. Today, over 450 merchants and enterprise clients  are onboarded to Fincart’s platform, across categories including fashion, cosmetics, accessories,  and electronics. Their strong market adoption, reflected in nearly 40% of acquisitions coming  through referrals and $0 spent on marketing over the past three years, demonstrates the value  being delivered to the merchants. Through fully automated workflows, Fincart enabled close to 1  billion EGP (~$20M USD) in product GMV to be shipped and delivered, removing the operational  friction of manual order processing and cash-on-delivery reconciliation. 

Fincart was born out of founders Mostafa Masry (CEO) and Nihal Ali (COO)'s firsthand experience  with the struggles e-commerce businesses face around poor last-mile delivery service and 

delayed reconciliation for cash on delivery, which remains the dominant payment method for e-commerce in Egypt and much of MEA. The platform gives merchants a hassle-free, frictionless  way to manage their shipping operations and seamlessly reconcile their cash-on-delivery  proceeds. 

"Everything we build starts with sitting down with merchants and understanding where they're  losing time, money, or customers. Most are juggling five or six disconnected tools just to run their  business shipping, payments, customer engagement none of which talk to each other. We built  Fincart to replace all of that with a single control panel where merchants can sell more, deliver  faster, and manage their customers, without the friction of stitching tools together," said Nihal Ali,  COO and co-founder of Fincart. 

"E-commerce in Egypt and across MEA doesn't grow because of any one company, it grows  because merchants, courier companies, and the platforms connecting them all get better together.  With our strategy focused on strengthening the e-commerce ecosystem, this investment will  enable us to deepen our partnerships, enhance our AI-powered platform, expand our  infrastructure, and accelerate our growth across Africa and the Middle East. We remain committed  to building the tools merchants need to sell more efficiently and serve their customers better,”  Mostafa added 

With this new capital, Fincart will scale its commercial and tech teams, invest in product  development, and forge new commercial partnerships to strengthen its position in its home  market. This investment will also lay the groundwork for expansion into new markets in 2027,  positioning Fincart as a leading operating system for merchants across the region. 

"Egypt's e-commerce market is one of Africa's most compelling infrastructure opportunities: high-volume, CoD-dominant, and deeply underserved at the SME level. Co-founders Mostafa and  Nihal, veterans of Careem, Glovo, Vodafone, and Delivery Hero, have built something merchants  genuinely cannot operate without. The organic, referral-driven growth tells you everything about  product-market fit, and we're excited to support Fincart's expansion across Egypt and into new  African markets as co-lead investors in this round," said Lina Kacyem, Investment Manager at  Launch Africa. 

"We back people first, and Mustafa, Nihal, and their team are why we invested: they've lived this  problem from every side and built with rare speed and discipline. We also hold a fundamental  belief in Egypt, its talent, and its role as a launchpad for commerce infrastructure across the  Middle East and Africa, and we're proud to co-lead this round as Fincart scales into new markets,"  said Romain Assunção, Managing Partner, Antler MENAP.