|16 February, 2020

Bosta lands 7-figure Series A investment from DPDgroup and Fawry

Bosta leverages technology to empower and enable e-commerce businesses in Egypt, with the aim of being a one-stop-shop for delivery solutions

A man talks on his mobile phone as he walks past an exchange bureau advertisement showing images of the U.S dollar, in Cairo March 10, 2014.

A man talks on his mobile phone as he walks past an exchange bureau advertisement showing images of the U.S dollar, in Cairo March 10, 2014.

REUTERS/Amr Abdallah Dalsh

Egyptian last-mile delivery provider Bosta received a seven-div Series A investment from Europe’s second largest operator in the courier, express, and parcel industry DPDgroup, which delivers more than 5.2m parcels worldwide every day. Egyptian e-payment leader Fawry and historic backer of Bosta is also part of this new round.

Focused on growth, Bosta leverages technology to empower and enable e-commerce businesses in Egypt, with the aim of being a one-stop-shop for delivery solutions. Accordingly, the company has served over 5,000 e-commerce businesses, and had previously received investment from Fawry, Numu Capital, and Cairo Angels.

This marks DPDgroup’s first ever investment in Egypt, a country whose potential is clearly recognised. DPDgroup will bring all its support to help Bosta become one of the leading parcel operators in Egypt with a minority stake in Bosta.

“The e-commerce industry in Egypt and the whole region is looking at a very positive outlook in the coming years. For instance, in 2019, e-commerce is an industry that is witnessing the second-largest flow of investment deals in the Middle East and North Africa, according to Magnitt,” Mohamed Ezzat, CEO of Bosta, said. “We are thrilled to be one of the key pillars of that movement, and DPDgroup’s investment only solidifies our role even further.”

Being apt to disrupt the local e-commerce industry, Bosta offers its clients next-day delivery, handles exchange shipments and customer returns, as well as cash collection – all backed by the company’s 97% successful delivery rate.

© 2020 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

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