Cairo-based Khazenly raises $2.5mln in seed round

Cairo – Khazenly, Egypt’s on-demand digital warehousing and fulfilment platform, has secured $2.50 million in a seed funding round.

Arzan Venture Capital and Shorooq Partners led the fundraising transaction, with the partnership of Camel Ventures, Averroes Ventures, and several angel investors, according to a press release.

The investment comes in line with Khazenly’s growth plans for 2022, as it will be used to develop its services and quadruple its existing facilities.

The platform will enable retailers and electronic commerce (e-commerce) entrepreneurs to digitally enhance their fulfilment processes when selling online business-to-consumer (B2C), through retail stores (B2B), marketplaces, cross-border, or a combination of these channels.

Founded in mid-2021, Khazenly has recorded an eight-digit figure of gross merchandise value (GMV) and offered over 16,000 self-service activities.

Tamer Azer, Partner at Shorooq Partners, noted: “The rise of e-commerce globally, especially following the disruptions seen in the pandemic, has shown that fulfillment really does make the world go round. It also empowers millions of people and businesses and enables them to reach customers the world over, as part of an increasingly global marketplace.”