Fincart closes USD 2.8 mn seed round

Fincart closed an oversubscribed USD 2.8 mn seed funding round, co-led by pan-African VC fund Launch Africa and Antler Menap, according to a press release (pdf). The Cairo-based e-commerce operations startup will use the fresh capital to develop its AI platform, grow its team, break into new regional markets, and lock in more partnerships, co-founder and CEO Mostafa Masry tells EnterpriseAM.

Also in the round: Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other investors focused on the region.

Fincart is a platform for e-commerce merchants, helping them manage shipping, access short-term cash advances against their sales, and drive customer engagement. The AI-powered platform bundles integration with over 40 couriers in what the company calls the largest integrated network in Africa. It was co-founded in 2023 by Masry and COO Nihal Ali.

REFRESHER- This is Fincart’s second raise, after the company closed an undisclosed pre-seed round in January 2025 led by Plus VC, with participation from Plug and Play, Orbit Startups and Jedar Capital. Proceeds went toward scaling its technology platform and courier network across the region.

What we don’t know: The company did not disclose the valuation at which the round was raised, or how the proceeds will be split across the four uses.

Built from their own headaches: Ali and Masry started the company after firsthand run-ins with poor last-mile delivery and delayed COD reconciliation. Merchants are typically “juggling five or six disconnected tools just to run their business, shipping, payments, customer engagement, none of which talk to each other,” Ali said in the release.

Not a lender, by design: Fincart’s cash-advance product doesn’t run through its own balance sheet, Masry tells us. “We generally work with partners in fintechs that provide this cash advance or settlement. We are the data layer that sits in between the lenders and the merchants,” he says. “In that way, we are not a financing entity ourselves,” he adds.

By the numbers: Fincart says it has onboarded more than 450 merchants and enterprise clients, with nearly 40% of new clients coming through referrals. It has enabled close to EGP 1 bn in product gross merchandise value through its shipping and cash-reconciliation workflows.

What’s next: Fincart already offers shipping to more than 100 destinations, with a Gulf-heavy footprint reflecting regional demand, Masry tells us. The 2027 push is about building presence in new markets, rather than just shipping reach. “We aim to target merchants from outside of Egypt and across the region generally,” he says.