Technology
Techbytes: Egypt’s Mylerz secures over USD 2 million to grow e-commerce logistics operations
Egyptian logistics startup Mylerz has raised more than USD 2 million in a combination of debt and equity to scale its fulfilment and last-mile delivery operations across Egypt. Lorax Capital Partners led the round, with participation from Egyptian fintech giant Fawry and a group of…
Picture: Zambia Monitor
Egyptian logistics startup Mylerz has raised more than USD 2 million in a combination of debt and equity to scale its fulfilment and last-mile delivery operations across Egypt.
Lorax Capital Partners led the round, with participation from Egyptian fintech giant Fawry and a group of existing investors.
Tech in Africa reports that founded in 2019 by Samer Gharaibeh, the Cairo-based company runs an end-to-end e-commerce logistics operation covering fulfilment and last-mile delivery.
At the heart of the business is a proprietary technology platform that gives online merchants a single dashboard to manage shipments and day-to-day logistics operations.
The new funding was expected to shore up the company’s balance sheet and working capital position.
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Mylerz plans to channel the capital into expanding its fulfilment infrastructure, growing the capacity of its delivery network, and deepening investment in the technology stack behind its same-day and next-day delivery services.
The raise comes as Egypt’s e-commerce sector continues to expand, putting pressure on logistics providers to build the warehousing and delivery capacity needed to keep pace with merchant demand.
For Mylerz, the fresh capital positions the company to capture more of that growth as online retail across the country matures.
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