{"id":81945,"date":"2024-10-28T00:00:00","date_gmt":"2024-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/pargo-secures-usd-4-mn-in-funding-to-expand-in-egypt-colis-ma-secures-usd-300k-from-witamix\/"},"modified":"2024-10-28T00:00:00","modified_gmt":"2024-10-28T00:00:00","slug":"pargo-secures-usd-4-mn-in-funding-to-expand-in-egypt-colis-ma-secures-usd-300k-from-witamix","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/pargo-secures-usd-4-mn-in-funding-to-expand-in-egypt-colis-ma-secures-usd-300k-from-witamix\/","title":{"rendered":"Pargo secures USD 4 mn in funding to expand in Egypt + Colis.ma secures USD 300k from Witamix"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong>P<\/strong><strong>argo brings its smart logistics services to Egypt<\/strong><strong>:<\/strong> South Africa-based logistics firm Pargo has secured some USD 4 mn in funding to fuel its expansion into Egypt, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/2100.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> said on Thursday. The funding round was led by 3Capital Ventures, Endeavor, SAAD Investment Holdings and UW Ventures. Pargo has rolled out its collect and return services \u2014 which allow people to collect or return their online orders at their convenience \u2014 across 500 pickup points in Egypt, including Fawry, Circle-K, and Basata stores. Pargo will offer its services to e-commerce platform Noon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Pargo:<\/strong> The logistics company launched its pilot program in Egypt back in 2023, testing its services with 150 pickup points before its official rollout, according to the statement. The firm is looking to expand across the region, with a target of setting up 7k pickup points by 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\"> OTHER STARTUP NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moroccan cross-b<\/strong><strong>order logistics startup Colis.ma has secured USD 300k in pre-seed funding from Moroccan venture capital firm Witamax<\/strong>, a <a target=\"_blank\" href=\"https:\/\/www.colis.ma\/blog\/post-4-Colis-Secures-300k-Pre-Seed-Investment-Witamax.php\" style=\"\" rel=\"noopener\">statem<\/a><a target=\"_blank\" href=\"https:\/\/www.colis.ma\/blog\/post-4-Colis-Secures-300k-Pre-Seed-Investment-Witamax.php\" style=\"\" rel=\"noopener\">ent<\/a> said on Thursday. The funding will allow the company to enhance its coverage in Morocco and six European countries, and to expand further in Africa, starting with Western Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they do:<\/strong> Colis is a platform and mobile app that allows customers to compare prices on the express transportation market and track shipments online, according to <a target=\"_blank\" href=\"https:\/\/www.colis.ma\/en\/a-propos.php\" style=\"\" rel=\"noopener\">Colsi.ma<\/a> \u2019s website. The startup has delivered over 50k parcels to more than 55 destinations in Europe since its founding in 2022, and increased its annual recurring revenue by 380% y-o-y in 2023. It received a USD 45k grant in February 2024 after completing the <a target=\"_blank\" href=\"https:\/\/www.orangecorners.com\/\" style=\"\" rel=\"noopener\">Orange Corners Program<\/a>, and raised USD 50k from African investor the Baobab Network after joining its accelerator program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WATCH THIS SPACE- Next funding round in 2026:<\/strong> Several African and international venture capital firms have expressed interest in joining Colis.ma\u2019s next fundraising round in early 2026, the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Colis.ma secured funding to enhance its service coverage in Morocco and six European countries, with further expansions into West Africa.<\/p>\n","protected":false},"author":1,"featured_media":81946,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[172],"tags":[150,171,259],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-morocco","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"d4a4b146-0936-45ef-a384-009614a3cded","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2400.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Pargo secures USD 4 mn in funding to expand in Egypt + Colis.ma secures USD 300k from Witamix","related_issue":[81935],"teaser":"Colis.ma secured funding to enhance its service coverage in Morocco and six European countries, with further expansions into West Africa.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.76b790a9-2b66-4b85-8981-fbe05ac169f8.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pargo secures USD 4 mn in funding to expand in Egypt + Colis.ma secures USD 300k from Witamix - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/pargo-secures-usd-4-mn-in-funding-to-expand-in-egypt-colis-ma-secures-usd-300k-from-witamix\/\" \/>\n<meta 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