Back to the complete issue
Thursday, 12 May 2022

Logistics startup Mylerz plans Egypt + Africa expansion after raising USD 9.6 mn in funding

Cairo-based logistics startup Mylerz has raised USD 9.6 mn in equity funding from private equity outfit Lorax Capital Partners, the startup announced in a press release (pdf). E-payments giant Fawry participated in the round and will also provide payments services for the company.

About Mylerz: Founded in 2019 by Samer Gharaibeh, the firm offers same-day, last-mile delivery for e-commerce merchants. Mylerz currently operates 21 fulfillment centers across the country and plans to open its largest fulfillment hub yet in West Cairo by 4Q 2022. The startup delivered 2 mn packages within two years of its launch.

The funding will go towards helping the firm expand across Egypt and enter new North African markets, as well as to develop its platform, Gharaibeh, also the company’s CEO, told Enterprise. Gharaibeh remains the largest shareholder in his company following the funding round.

Mylerz plans to expand to Algeria, Tunisia and Moroccoin three months’ time,” Gharabeih said. The company is also eyeing Libya, Sudan, and East Africa’s growing e-commerce markets for potential expansion next year, he added. Fawry will provide payment services to Mylerz in all of its new markets.

This isn’t Fawry’s first partnership with Gharaibeh: The e-payments giant in February partnered with Gharaibeh, tech solutions firm Softec, and Confida Ventures Managing Partner Ammar Zawaideh to set up courier delivery platform Roaderz. The crowdsourcing platform connects couriers and small delivery firms with e-commerce merchants, while allowing sellers to request couriers on demand or schedule their services in advance.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.