Egypt: Shipping platform closes $2.4m funding
ShipBlu, a platform that is redefining the e-commerce shipping and fulfillment experience in Egypt, has raised $2.4 million in its latest seed round. The new funds will help ShipBlu grow its service offering and coverage across Egypt.
ShipBlu raised funding from several prominent investors. Led by Nama Ventures, the round saw participation from 1984 Ventures; Orange Ventures – the venture capital arm of Orange Telecom; Starling Ventures; Flexport – one of Y-Combinator’s global freight and logistics unicorns; and other global funds and angel investors. The round follows ShipBlu’s recent pre-seed round which closed in the summer of 2021.
“We are very excited to welcome our new and existing partners in this latest funding round,” said Ali Nasser, CEO of ShipBlu. “All of our investors have recognised ShipBlu’s potential to reshape the last mile delivery and fulfilment landscape in this part of the world. Their expertise and experience will accelerate our growth during the coming period and help us extend our services across the country. Together, we believe we can empower local businesses to sell nationally and grow their customer base across the country, helping them capture the surge in ecommerce that we are currently witnessing.”
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