Bosta raises Series A investment
Egypt-based Bosta, a last-mile delivery platform, has raised a seven-figure Series A investment from Europe’s second largest operator in the courier, express and parcel (CEP) industry DPDgroup and Egyptian e-payment provider Fawry.
Previously, Bosta had raised investment from Fawry, Dubai-based venture capital firm Numu Capital and CairoAngels, according to the company’s press release on Sunday, adding that this deal marks the first DPDgroup’s first ever investment in Egypt.
Bosta is an Uber-like platform that aims to automate and streamline logistics operations for businesses and individuals, providing its customers with hassle-free shipments, customer-centric returns and various delivery options.
“The e-commerce industry in Egypt and the whole region is looking at a very positive outlook in the coming years. For instance, in 2019, e-commerce as an industry witnessed the second-largest number of investment deals in Mena, according to Magnitt,” said Mohamed Ezzat, chief executive officer at Bosta.
“We are thrilled to be one of the key pillars of that movement, and DPDgroup’s investment only solidifies our role even further,” he added.
The platform leverages a network of more than 42,000 Pickup points and has successfully served over 5,000 e-commerce businesses.