Fincart Secures $2.8M Seed Round to Expand AI-Powered Commerce Platform

Cairo-based e-commerce operations startup Fincart has closed a $2.8 million seed funding round, co-led by Launch Africa and Antler MENAP, with backing from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other regional investors.

Solving Merchant Pain Points

Fincart was founded in 2023 by Mostafa Masry and Nihal Ali to address the common challenges faced by growing online businesses. The platform integrates logistics, customer engagement, and cash flow management into a single system, eliminating the need for merchants to juggle multiple tools.

“We built Fincart because we experienced firsthand the frustrations of managing fragmented e-commerce operations,” explained Masry. “Last-mile delivery issues and delayed payments were particularly problematic.”

Key Features & Traction

• Integrates with 40+ courier services across Africa, providing access to a vast connected delivery network
• Processes nearly EGP 1 billion in gross merchandise value through its platform
• Has signed over 450 merchants and enterprise customers, with referrals accounting for 40% of new business
• Offers short-term working capital based on sales performance by connecting merchants with fintech partners

Expansion Plans

With this funding, Fincart will:

• Enhance its AI capabilities to provide more intelligent automation
• Expand into new markets across the Middle East and Africa
• Hire additional talent to support growth
• Secure strategic commercial partnerships

The company previously raised an undisclosed pre-seed round in January 2025 led by Plus VC.