Cairo – Sharikat Mubasher: Egyptian startup Fincart, an AI-powered e-commerce operations platform, announced it has raised a $2.8 million seed funding round led by participation from UAE-based global technology company Yango Group through its corporate venture arm, Yango Ventures.
As per a recent press release, the fresh capital will be used to accelerate product development, expand the team, establish new commercial partnerships, and support the company's expansion into additional markets across the Middle East, North Africa, and Africa.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart provides online merchants with a unified platform to manage logistics, monitor delivery performance, automate cash reconciliation, and access working capital based on sales data. The company initially launched as a logistics aggregator before evolving into an AI-powered operating system for e-commerce businesses.
Commenting on this, Daniil Shuleyko, Yango Group CEO, said the investment reflects the growing need for integrated operational infrastructure that enables merchants to simplify logistics, improve delivery performance, and access financial tools, allowing businesses to focus on growth rather than fragmented processes.
The investment also strengthens Yango Ventures' footprint in the regional startup ecosystem following its earlier investment in UAE-based embedded finance startup Comfi AI, underscoring growing investor interest in technology platforms that help SMEs scale across emerging markets.
