Egypt’s ExpandCart bags $2.5 million Series A funding

Egypt's ExpandCart bags $2.5 million Series A funding
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Featured image: ExpandCart co-founders; Amr Shawqy (left) and Sameh Nabil

Cairo, Egypt-based e-commerce solution provider, ExpandCart, on Sunday announced that the company has raised $2.5 million funding in Series A round, led by Sawari Ventures, with participation from Agility Ventures, Graphene Ventures, and a couple of angel investors.

Founded in 2013 by Amr Shawqy (CEO), Sameh Nabil (CTO) and Yasser Seleem (President), ExpandCart helps merchants and retailers build their online stores and boost their sales digitally.

The company said that the demand for its solution got skyrocketed amid the COVID-19 scenario – helping ExpandCart to support thousands of merchants to continue selling their products digitally.

Speaking of the development for ExpandCart, Amr Shawqy, CEO and co-founder of ExpandCart, in a statement said,

“At ExpandCart, we believe that technology can empower commerce, with that vision in mind, over the past couple of years, we have built solutions to help merchants expand their sales online and offline,”

Ahmed Alfi, chairman of Sawari Ventures, in a statement said,

“Over the past years, the ExpandCart team was able to build an amazing platform supporting thousands of merchants from all over the Middle East. Their new e-commerce solutions roadmap proves that they truly understand the future of e-commerce, and we are excited to be part of their journey,”

ExpandCart has successfully expanded its operations across the GCC, Egypt, and North Africa, doubling numbers every year since it started gaining an excellent reputation and impressive traction. The company claims to have serviced over 20,000 merchants across 40 countries. The company also works with Facebook, Google, PayPal, DHL, and Boubyan Bank, among others. In January, ExpandCart raised an undisclosed sum from Agility Ventures.

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Wajiha Wahab

Part of the editorial team at LAFFAZ, Delhiite by birth, Wajiha possesses a keen interest in reading about startups, accumulating information and presenting the same to the audience impressively.
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