Cairo – Mubasher: The Egyptian logistics tech startup Bosta announced that it has secured its third seed investment in 2017 from Egypt’s leading e-payment solutions Fawry in a transaction entailing a share purchase and capital increase.
Bosta aims at leveraging its latest investment to develop its online delivery platform, boost its user-experience, and disrupt the delivery service market in Egypt while keeping an eye on other regional opportunities.
The logistic startup will be capable of executing its growth plan promptly by expanding across the country’s governorates and boosting its product offering, in order to become Egypt’s leading logistics provider.
“We are very excited on this investment, it complements our vision to scale e-commerce in the Egyptian Market, we are as well proud that Egyptian talent is capable of providing world-class technology solutions,” chairman and CEO of Fawry Ashraf Sabry said.
Moreover, co-founder and CEO of Bosta Mohamed Ezzat, said: “We have always been passionate about changing the landscape of e-commerce via logistics, and given how Fawry shares the same vision on disrupting the e-payments industry, our partnership with them reinforces our collaborative efforts to take e-commerce in the MENA region to the next level.”
