Egypt-based e-commerce delivery and logistics startup, R2S Logistics has raised an undisclosed fund in its Pre-Series A round. The fund was secured from A15, a digital technology investment company in MENA.
Founded in 2016, R2S offers last-mile e-commerce delivery service to online businesses in Egypt. The startup also offers international delivery, Inventory management and an R2S plus platform that connects merchant websites to alternative delivery spots.
R2S currently has 11 hubs across Egypt with few plus stores that act as pickup points for deliveries. The stores are expected to grow to about 600 by 2020. Thus, the funding came at a time when the startup needed it the most.
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The Chief Executive Officer R2S Logistics, Mahdi Al Olabi expressed joy over the raised fund. He noted that the startup will utilize the investor’s expertise, operational excellence and track record in e-commerce to boost its delivery services.
This knowledge will be used to support its expansion bid as well as the partnership with more stores and e-commerce platforms across Egypt. It will also enable the startup to connect with more businesses and a larger customer base.
The Chief Executive Officer, A15 noted that the startup is more than an e-commerce delivery partner. It is an enabler to online businesses in the ecosystem through its strong logistics experience, innovative technology, and partnerships. This strength prompted the funding from A15 as it seeks to combine effort to build the R2S plus platform.
The investment will also enable A15 to work with R2S logistics to unlock the potential of the modern-day e-commerce ecosystem in Egypt.
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