Fincart, the AI-driven operating system built for e-commerce merchants, has closed an oversubscribed seed round worth $2.8m as it looks to accelerate its expansion across Africa and the Middle East.
The round was co-led by Launch Africa and Antler MENAP, and drew backing from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, alongside a group of other investors focused on the MENA and Africa regions, according to a report from Wamda.
It builds on the company’s earlier pre-seed raise, which was headed by Plus VC and included Orbit Ventures, Plug and Play and further regional backers.
The fresh capital will be used to grow Fincart’s commercial and technology teams, fund ongoing product development and establish new commercial partnerships to cement its standing in its home market. The funding is also intended to prepare the ground for entry into additional markets in 2027, with the ambition of becoming the region’s leading merchant operating system.
Founded in 2023, Fincart specialises in streamlining shipping and financing for social sellers, SME e-commerce brands and marketplaces so they can grow their businesses seamlessly.
Fincart CEO Mustafa Masry said, “We are grateful for the confidence our investors have placed in our vision, product, and long-term goals, and their support will enable us to accelerate our mission of transforming e-commerce operations across the region.”
Fincart COO and co-founder Nihal Ali said, “Everything we build starts with sitting down with merchants and understanding where they’re losing time, money, or customers. Most are juggling five or six disconnected tools just to run their business shipping, payments, customer engagement none of which talk to each other. We built Fincart to replace all of that with a single control panel where merchants can sell more, deliver faster, and manage their customers, without the friction of stitching tools together.”
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