By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
    SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
    April 2, 2023
    Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn
    Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn 
    April 2, 2023
    Al-Mashat, Rahmi discuss MSMEDA's financing needs
    Al-Mashat, Rahmi discuss MSMEDA’s financing needs
    April 2, 2023
    architecture House Zero in Austin, Texas, is a 2,000-square-foot home that was built with 3D-printed concrete. Lake Flato Architects
    3D printing promises to transform architecture forever – and create forms that blow today’s buildings out of the water
    April 2, 2023
    CBE considers raising banks' reserve requirement
    Central Bank of Egypt considers raising banks’ reserve requirement
    April 1, 2023
  • Politics
    PoliticsShow More
    Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
    Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
    April 2, 2023
    More than 4 million newborns examined in Egypt's hearing loss and weakness initiative
    More than 4 million newborns examined in Egypt’s hearing loss and weakness initiative 
    April 2, 2023
    Egyptian president Sisi says fight against terrorism not less significant than Egypt's October War victory
    Egyptian president says fight against terrorism not less significant than October War victory
    April 2, 2023
    Syrian FM visits Egypt for 1st time in over 10 years
    Syrian FM visits Egypt for 1st time in over 10 years
    April 2, 2023
    Ramadan fasting is related with leniency in legal system: Study
    Ramadan fasting is related with leniency in legal system: Study
    April 1, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egyptian shipping startup Bosta raises $6.7m in new financing round
Share
Notification
Latest News
SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
Business
Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn
Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn 
Business
Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
Politics Region
Al-Mashat, Rahmi discuss MSMEDA's financing needs
Al-Mashat, Rahmi discuss MSMEDA’s financing needs
Business
More than 4 million newborns examined in Egypt's hearing loss and weakness initiative
More than 4 million newborns examined in Egypt’s hearing loss and weakness initiative 
Politics Egypt
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egyptian shipping startup Bosta raises $6.7m in new financing round
Business

Egyptian shipping startup Bosta raises $6.7m in new financing round

Mohamed Alaa El-Din
Last updated: 2021/05/17 at 10:43 PM
By Mohamed Alaa El-Din 3 Min Read
Share
Egyptian shipping startup Bosta raises $6.7m in new financing round
SHARE

Bosta, an Egyptian startup in the shipping and delivery field, has raised about $6.7m in a new round of financing, which will go towards boosting its expansion.

The Cairo-based startup, which provides its services in a concentrated fashion to e-commerce companies, faces competition from other companies in the market, including Fetchr and Aramex.

It plans to expand into Dubai and Saudi Arabia by the end of 2021, and aims to achieve one million monthly deliveries, according to CEO Mohamed Ezzat.

The financing round was led by Jordanian venture capital firm, Silicon Badia. Other participants included 4DX Ventures, an investment firm focused on the African market, along with undisclosed Saudi and angel investors.

This comes on the heels of a $1.8m financing round secured in 2020 from DPDgroup, a European company focusing on package delivery, bringing the total pooled financing so far to nearly $9m.

Bosta currently carries out around 300,000 deliveries per month in Egypt, and reports indicate that it works with 3,000 companies, including online shopping platforms Amazon, Noon, and Jumia.

The startup provides a variety of services to e-commerce companies, including next-day delivery, purchase order tracking, returns and exchanges, and cash collection.

“E-commerce companies focus on selling, whilst we focus on operations and delivery services,” Ezzat said, adding that the company has around 210 employees and a network of around 500 drivers.

Silicon Badia has expressed its admiration for Bosta’s accomplishments in a challenging sector, and in a major regional market.

“The numbers speak for themselves,” said Namik Al Zoubi, Managing Partner of Silicon Badia. “This company is on its way to triple its KPIs this year, along with maintaining an excellent customer experience, which is crucial in this area.” 

Ezzat co-founded Bosta after previously serving as Operations Manager for Lynks, an Egyptian e-commerce company.

Through that experience, he noticed a gap between logistics and e-commerce in Egypt, particularly with regard to last-mile deliveries, or product deliveries to customers, which he believes is holding back the growth of the online retail business.

You Might Also Like

SAS Analytics, AI accelerate digital transformation of Egypt’s financial services

Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn 

Al-Mashat, Rahmi discuss MSMEDA’s financing needs

3D printing promises to transform architecture forever – and create forms that blow today’s buildings out of the water

Central Bank of Egypt considers raising banks’ reserve requirement

TAGGED: Bosta, Egyptian shipping
Share this Article
Facebook Twitter Email Print
Previous Article Cleopatra Group seeks regulatory approval for Alexandria New Medical Center acquisition Cleopatra Group seeks regulatory approval for Alexandria New Medical Center acquisition
Next Article Ghabbour Auto to continue eyeing growth of financing arm GB Capital: CEO
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
SAS Analytics, AI accelerate digital transformation of Egypt’s financial services
Business
Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn
Indian Ambassador to Cairo stresses keenness to boost Egypt-India trade exchange to $7.5bn 
Business
Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
Palestinian Presidency warns of consequences of Israeli escalation in Al-Aqsa Mosque
Politics Region
Al-Mashat, Rahmi discuss MSMEDA's financing needs
Al-Mashat, Rahmi discuss MSMEDA’s financing needs
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?