Egyptian Startup Bosta Raises Fund in a Series-A Round

Cairo-based delivery startup Bosta has raised an undisclosed amount in a Series-A round from French parcel delivery company the DPDgroup.

This, according to an article yesterday in tech publication Menabytes. While the publication did not disclose how much the startup raised, it said the raise was a seven-digit dollar figure.

It said Egyptian payments company Fawry, which invested in Bosta in late 2017, also took part in the round.

Bosta has raised $1.7m in investment since its inception in 2016

Founded in 2016 by Mohamed Ezzat, Ahmed Gaber and Mohamed El-Houssainy, Bosta provides different types of last-mile delivery solutions to ecommerce businesses in Egypt.

Menabytes said the startup has served over 5000 businesses in Egypt to date and has grown the number of deliveries by over 10 times in the last year, to 150 000 parcels a month currently.

According to Crunchbase, since inception Bosta has raised a total of $1.7-million in funding over four rounds.

Featured image: Bosta via Facebook



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