Egypt's Fincart raises $2.8M seed to take its e-commerce operations platform across MENA and Africa

Fincart, the Cairo-based e-commerce operations platform, 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.

The platform gives online merchants a single interface for shipping, customer engagement and cash advances, integrating with more than 40 courier companies across Africa. Its tools let merchants monitor delivery performance, automate cash reconciliation and handle claims and support, while eligible sellers can draw short-term working capital underwritten against their sales data.

The proceeds will fund product development, hiring and commercial partnerships as the company expands into further MENA and African markets.

Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart began as a thin integration layer connecting merchants to shippers, automating shipment creation and airway bill printing.

"The problem is much bigger for e-commerce: crunched cash cycles, cancellations, delivery delays, and lost sales because something outside the merchant's control was broken," Masry wrote of the pivot that followed on LinkedIn, describing the company's ambition now as building "the agentic operating system for e-commerce merchants."

The seed follows an undisclosed pre-seed in January 2025 led by Plus VC, with Plug and Play, Orbit Startups and Jedar Capital participating, at which point Fincart reported fourfold year-on-year growth and integrations with more than 30 shipping companies.

MENA's e-commerce market is projected to reach $75 billion by 2028, served by more than four million SMBs, a base for which fragmented courier networks, cash-on-delivery reconciliation and working capital trapped in transit remain the binding constraints on growth.