News
Fincart raises $2.8 million oversubscribed Seed co-led by Launch Africa and Antler
Egyptian e-commerce operations platform Fincart has closed an oversubscribed $2.8 million Seed round co-led by Launch Africa and Antler MENAP to expand across MENA and Africa.
By Propel Africa · 2026-07-27
Fincart, an Egyptian platform for e-commerce merchants, has closed an oversubscribed $2.8 million Seed round, Wamda reported on 27 July. Launch Africa and Antler MENAP co-led the round, with Yango Ventures, Five35, Bluestream Capital, Hi2 Global, Kalahari Venture Labs and other regional investors taking part. It follows a pre-Seed round in January 2025 led by Plus VC, the amount of which was not disclosed.
What Fincart does
The company runs an AI-powered operating platform that lets merchants manage shipping, customer engagement and cash advances in one interface. It integrates with more than 40 courier companies across Africa. Mostafa Masry is CEO and Nihal Ali is COO, and the company was founded in 2023.
Traction
Fincart serves more than 450 merchants and enterprise clients and has handled nearly EGP 1 billion in gross merchandise value, about $20 million according to the press release. Nearly 40% of its customer acquisition comes from referrals, and it says it has spent nothing on marketing over the past three years.
Plans
The funds will go to developing the AI platform, scaling commercial and tech teams, strengthening partnerships and expanding across MENA and Africa, with new markets planned for 2027.
At a glance
- Company: Fincart
- Raised: $2.8 million
- Round: Seed, oversubscribed
- Co-leads: Launch Africa, Antler MENAP
- Founded: 2023
- Based in: Egypt
- Markets: Egypt, with MENA and Africa expansion planned
- Key figure: More than 450 merchants and enterprise clients