Egyptian delivery startup Bosta is preparing what would be the first tech-enabled logistics listing on the Egyptian Exchange. The company plans to float 20% to 30% of its shares by the end of 2026 in an offering valued at approximately EGP 8 billion ($160 million to $170 million), with EFG Hermes managing the process, according to people familiar with the plans.
The IPO preparation is running concurrently with a $32 million private funding round, of which $27 million has already been raised, with investors including Egypt-listed fintech heavyweight Fawry, whose CEO Ashraf Sabry has confirmed the company intends to remain invested after the listing.
Founded in Cairo in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta started as a last-mile delivery platform serving e-commerce merchants with a network of freelance drivers.
It raised a $6.7 million Series A in 2021 led by Amman-based Silicon Badia, with participation from 4DX Ventures, Plug and Play Ventures, and Khwarizmi Ventures. Axian Group invested in early 2024, and DPDgroup and Fawry had participated in an earlier round. The company now operates across Egypt, the UAE, and Saudi Arabia.
What was once a 300,000-parcels-a-month operation delivering for 3,000 businesses now describes itself as an ecosystem operator. Bosta handled 37 million parcels in 2025 and is targeting 80 million in 2026.
In late January, it inaugurated a $5 million automated sorting centre in Cairo, built by Egyptian manufacturer Simplex, with a processing capacity of 11,000 parcels per hour. The company is also expanding into heavy transport and B2B logistics, moving oversized goods between factories and retailers, a move designed to balance the seasonal volatility of consumer e-commerce.
On 18 February, Bosta signed a strategic partnership with SuperJet, one of Egypt's largest state-owned intercity bus operators, to build a national same-day shipping network between governorates. Bosta will design, manage, and operate the entire shipping system, while SuperJet provides the transport network.
The service is expected to reach a capacity of up to six million shipments annually once fully rolled out, and by piggybacking on SuperJet's existing bus fleet and station infrastructure, Bosta bypasses the capital intensity of building its own long-haul network.
The timing is not coincidental. Egypt's public markets are experiencing a revival. The EGX's total market capitalisation surged 42% year on year in 2025, part of a cumulative 390% growth since mid-2022, and exchange officials have said 2026 could be the most active period for IPOs in the market's history, with around eight new listings expected.
Premium food retailer Gourmet debuted in February with a 30% first-day gain after its private tranche was 12 times oversubscribed. EFG Hermes, which managed that offering, is also advising Bosta.
The precedent Bosta's backers will most want to invoke is Valu, the EFG Holding fintech subsidiary that began trading on the EGX in June 2025, attracted Amazon as a 3.95% shareholder on its first day, and reached a $370 million market capitalisation within a week.
Whether Bosta can generate that same enthusiasm will depend on whether investors see it as a high-margin technology ecosystem or a traditional courier that happens to use software.
Silicon Badia's managing partner Namek Zu'bi, the lead investor since the Series A, told Inc. Arabia that the company has genuine optionality between public markets and a strategic transaction, noting that Silicon Badia has taken three portfolio companies public with three more in progress this year.
Ezzat, for his part, has joined as an LP in Silicon Badia's next regional fund, a small but telling signal of the flywheel effect that exits, when they actually happen, are supposed to create.
