Egyptian logistics and mobility startup Octane has announced a successful $5.2 million seed funding round aimed at transforming how fleet operators manage fuel payments across the Middle East and North Africa (MENA) region.
The round was led by Raed Ventures, with participation from Global Founders Capital, Flat6Labs, and a number of prominent angel investors. Octane plans to use the capital to accelerate product development, expand regional partnerships, and grow its footprint in key MENA markets such as Saudi Arabia, the UAE, and Morocco.
Founded in 2023 by Ahmed El-Sayed and Nourhan Adel, Octane offers a digital fleet payment and fuel management solution that allows logistics operators to control, monitor, and optimize fuel expenses in real time. The platform integrates directly with fuel stations and fleet telematics systems, offering instant authorizations, spending limits, and data analytics that eliminate inefficiencies and reduce fraud.
“Fuel management is one of the largest operational pain points for fleet operators in the region. With Octane, we’re building the infrastructure to make payments smarter, more secure, and fully digitized,” said CEO and co-founder Ahmed El-Sayed. “This funding will help us scale our platform and make a significant impact in a $30 billion market plagued by fragmentation and legacy systems.”
Octane’s platform includes a driver mobile app, an operator dashboard, and an API suite for logistics platforms and fuel station partners. It enables businesses to issue digital fuel cards, restrict unauthorized purchases, and get real-time visibility into fuel usage and costs across their fleets.
“Octane is solving a very real problem for logistics and delivery operators. Their solution delivers immediate ROI to customers and has strong regional expansion potential,” said Omar Almajdouie, founding partner at Raed Ventures.
Since its launch, Octane has onboarded over 200 fleet operators across Egypt, managing fuel payments for more than 7,500 vehicles. The startup says it has already processed over $12 million in fuel transactions and is currently in talks with several national oil companies to deepen its integration network.
With rising fuel costs, increased regulatory scrutiny, and growing demand for digital infrastructure, Octane is positioning itself as a key enabler of smarter fleet operations in the MENA region.
“This is just the beginning,” said Nourhan Adel, COO and co-founder. “Our goal is to become the backbone of fleet financial infrastructure across emerging markets — starting with fuel, and expanding into tolls, maintenance, and beyond.”
Octane is a Cairo-based fintech and logistics startup focused on digitizing fleet payments across MENA. The company provides a smart platform for fuel payment, control, and optimization, serving logistics firms, last-mile operators, and transportation businesses.
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