Egyptian e-Commerce Start-Up Bosta Secures $6.7 Million In Funding
Egyptian e-Commerce Start-Up Bosta Secures $6.7 Million In Funding. Egyptian logistics and last mile delivery company Bosta has raised a US$6.7 million Series A funding round to scale its operations and expand into the GCC. The US$6.7 million Series A funding round is led by global VC fund Silicon Badia, with participation from 4DX Ventures, Plug and Play Ventures, Wealthwell VC and Khawarizmi VC, as well as other regional and global investors. Bosta had previously received investment from DPDgroup, Fawry, Numu Capital and Cairo Angels.
“Solving the last mile delivery problem for ecommerce companies is very crucial for the ecommerce business to grow in Egypt and the Middle East. As a company, we are committed to helping the ecommerce sector grow by providing them with speedy delivery, quality, and exceptional service – all while making sure our prices are one of the most competitive to help them with their tight unit economics and help them grow a profitable business. At Bosta, with our customer-driven approach and finding tech-driven solutions, we make sure that we are able to hit the three pillars while keeping our costs as low as possible,” Mohamed Ezzat, founder and chief executive officer (CEO) of Bosta told Disrupt Africa.
Dr Fawaz Zu’bi, founder and CEO of Silicon Badia also told Disrupt Africa that, e-commerce had always had amazing potential in the region, but was always held back by something, whether payments, logistics, market fragmentation, or customer adoption. “We are excited to finally see companies like Bosta emerge to tackle some of these issues and help ecommerce realise its full promise and potential in a region that has now ‘turned on’ digitally,” he said.
Launched in 2017, Bosta is an overnight delivery provider for e-commerce companies in Egypt. Leveraging technology to empower businesses is what it does best. The company’s goal is to disrupt the logistics industry by bringing technology and experience altogether to provide a one-stop-shop for delivery solutions. It relies on advanced technology to deliver orders to its customers in a fast way. Businesses can track and connect with couriers and follow up on their orders – all in one system.
