Yango Ventures backs Egypt’s Fincart in $2.8M seed round
Egypt-based e-commerce operations platform Fincart has closed an oversubscribed $2.8 million seed round, with investment from Yango Ventures, the corporate venture fund of UAE-headquartered Yango Group, according to a statement carried by Zawya.
Why it matters: Small merchants in Egypt lose margin to the operational layer beneath the sale, including fragmented courier networks, cash-on-delivery reconciliation and working capital that reaches them weeks after the goods do. Capital moving into that infrastructure layer, from a corporate investor with its own operating history in the region rather than a purely financial backer, signals where value is now believed to sit in African e-commerce.
The details:
Fincart was founded by Mostafa Masry and Nihal Ali, and began as a service connecting merchants with last-mile delivery providers.
The platform now integrates with more than 40 logistics providers, giving merchants a single connected delivery network.
Its tools cover delivery performance monitoring, automated cash reconciliation and customer retention, with short-term working capital available to eligible merchants on the basis of their sales data.
Yango Ventures is a $20 million fund covering MENAP, Sub-Saharan Africa and Latin America. Zawya reported that its first regional investment went to UAE-based embedded finance company Comfi AI.
By the numbers: Fincart serves more than 450 merchants and enterprise clients, and its automated workflows have supported the delivery of goods worth close to EGP 1 billion, roughly $20 million, the Zawya statement said. Almost 40% of customer acquisition has come through referrals, with no marketing spend across the past three years.
What they are saying: Daniil Shuleyko, Chief Executive Officer of Yango Group, said the group has built technology businesses across more than 35 markets and found the same pattern in each of them, which is that “small businesses grow much faster when technology removes operational complexity”. He explained that Fincart simplifies logistics, improves delivery performance and gives merchants better operational and financial tools, leaving them less time spent on fragmented processes.
Mostafa Masry, Co-founder and Chief Executive Officer of Fincart, said the investment combines Yango’s operational depth across Africa with the company’s ambition to become “the operating backbone of e-commerce for merchants across the continent”. Masry added that the funding supports the infrastructure behind the next growth phase for e-commerce SMBs in emerging markets.
What’s next: Product development, hiring and commercial partnerships, ahead of expansion into additional MENA and African markets in 2027. Yango Ventures will also supply product, technology and scaling support drawn from the group’s operations across international markets.
The bottom line: A $2.8 million seed buys a runway rather than a regional footprint, and the referral-led growth Fincart has shown in one market says little about how the model performs where courier density, payment behaviour and merchant economics differ. The 2027 expansion will be the readout.
