Mylerz, an e-commerce fulfillment firm based in Cairo, has raised $9.6 million in funding.
Lorax Capital Partners, an Egypt-based private equity firm, led the investment round, which also included Fawry, an Egyptian e-payment provider.
In November 2019, Samar Gharibeh founded Mylerz.
The Mylerz platform enables its partners to follow orders in transit, adjust delivery destinations or times, and generate business data such as consumer behavior and demographics.
“To meet the increased demand for storage, order processing, and last-mile delivery, Mylerz has 21 fulfillment centers and aims to create a 25,000 sqm hub, its largest to date,” Gharibeh explained.
Fawry, Mylerz’s payments partner, will join the company as it grows into Algeria, Tunisia, and Morocco, providing electronic payment and cash collection services. “Our immediate objective is to expand across Egypt, developing new markets and simplifying cross-border trade for our consumers,” Gharibeh added. We have the proper partners in place to help us achieve our goals and expand our end-to-end logistics platform.”
Because cash on delivery is still the favored mode of payment in Egypt, Mylerz will use Fawry’s representatives to help deposit cash collected from buyers.
The business also has its sights set on East Africa’s burgeoning e-commerce market, with the long-term goal of becoming a pan-African shipping logistics provider.
Over the following three months, Mylerz will use the capital to expand across Egypt and explore three new markets in North Africa.
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