Yango Group, the UAE-based technology company, has invested in Egypt’s Fincart through its corporate venture fund, Yango Ventures, as part of the AI-powered e-commerce operations platform’s oversubscribed $2.8m seed funding round.
The investment will support Fincart’s product development, team expansion, and new commercial partnerships as the company prepares to expand into additional markets across the Middle East, North Africa, and Africa. Yango Ventures will also provide product, technology, and scaling expertise drawn from Yango Group’s experience in more than 35 international markets.
Fincart provides e-commerce merchants with a unified platform to manage key operational functions, including shipping, cash reconciliation, access to working capital, and customer engagement. Its locally developed technology addresses operational bottlenecks that can limit the growth of small and medium-sized merchants.
The investment aligns with Yango Group’s strategy of supporting early-stage companies developing digital infrastructure for businesses in high-growth markets.
Founded by Mostafa Masry and Nihal Ali, Fincart initially operated as a service connecting e-commerce merchants with last-mile delivery providers before evolving into an AI-powered operating system. The platform now integrates with more than 40 shipping providers, enabling merchants to access a broad delivery network through a single interface.
Its technology allows merchants to monitor delivery performance, automate cash reconciliation, improve customer retention, and, for eligible businesses, access short-term working capital based on sales data.
“We have built technology businesses in more than 35 markets, and we know that small businesses grow faster when technology simplifies operations,” said Daniil Shuleyko, Chief Executive Officer of Yango Group. “Fincart is solving this challenge by streamlining logistics, improving delivery performance, and equipping merchants with better operational and financial tools. We are excited to support the team as they expand across the region.”
Mostafa Masry, Co-founder and Chief Executive Officer of Fincart, said the investment from Yango Ventures will accelerate the company’s regional expansion and reinforce its position as the technology backbone for e-commerce merchants across Africa.
Fincart currently serves more than 450 merchants and enterprise clients and has facilitated shipments worth nearly EGP 1bn (around $20m). The company said nearly 40% of its new customers are acquired through referrals despite having made no marketing expenditure over the past three years.
The newly raised capital will be used to further enhance the platform, expand the company’s team, strengthen commercial partnerships, and prepare for its planned regional expansion in 2027.
Yango Ventures is Yango Group’s $20m corporate venture fund, established to support early-stage startups across the Middle East, North Africa, Pakistan, Sub-Saharan Africa, and Latin America through funding and operational expertise. The fund focuses on sectors including e-commerce, fintech, artificial intelligence, and mobility. Its first regional investment was in UAE-based embedded finance startup Comfi AI.
