Fincart closes pre-seed round: Local e-commerce shipping services provider Fincart raised an undisclosed amount in a pre-seed funding round, according to a statement (pdf). The round was led by Plus VC and with participation from Plug and Play, Orbit Startups, Jedar Capital, and other regional investors.

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Where the funds are going: The fresh funds will help the startup improve its technology platform, and expand its courier network to “support the fast-growing e-commerce market in Africa and the Middle East.”

Regional expansion ahead? Fincart late last year unveiled plans to expand into Gulf markets and enter North and West Africa by 2025. “We are always exploring opportunities to grow and expand our impact across regions with vibrant e-commerce ecosystems,” co-founder Mostafa Masry (LinkedIn) told EnterpriseAM. “North and West Africa are incredibly dynamic markets with significant potential, and we are committed to supporting SMBs wherever we see opportunities to create value,” Masry added.

About Fincart: Co-founded in 2023 by Nihal Ali (LinkedIn) and Masry, Fincart helps connect small businesses with local and international shipping companies, helping them scale up operations. The platform provides multi-courier shipping options, last-mile delivery services, and access to working capital.

What they said: “Our strategy is to empower small and medium online sellers to scale through a seamless platform,” Masry said. “Our platform enhances SMBs' delivery performance with a courier recommendation engine, consolidated payments, and exclusive shipping rates. Merchants benefit from improved efficiency, full coverage, and tools to drive growth and scale seamlessly,” Ali said.

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