Mylerz, an Egyptian last-mile delivery and fulfillment innovation company, has raised $9.6 million from Lorax Capital Partners to scale and expand its operations in Egypt and North Africa. Fawry, Egypt’s leading payment company, will enable Mylerz in improving its cash collection services for its merchants, as part of the round.
Mylerz, which started operations in 2019, already has a fleet of over 350 eco friendly vehicles and 21 local fulfillment hubs strategically located around Egypt. Within two years of its founding, the company had delivered two million packages. Mylerz’s proprietary logistics management technology allows it to deliver e-commerce products to city centres clients in as little as one day.
By Q4 2022, Mylerz will be able to build and open a new AI-enabled, automated 25,000 sqm cross-docking fulfillment center west of Cairo to complement its present 1,500 sqm fulfillment center, which launched in Q3 2021.
By providing an end-to-end solution that includes fulfillment and last-mile delivery, Mylerz meets a crucial market requirement for its e-commerce customers. Africa’s expanding e-commerce market is expected to be worth $180 billion by 2025, according to the corporation.
Mylerz is enabling the expansion of e-commerce in Egypt and its new countries of Tunisia, Algeria, and Morocco by delivering cash on delivery, as well as a full variety of delivery services and tech-enabled merchant solutions.
Mylerz Founder & CEO Samer Gharaibeh, commented, “We are excited to announce the close of our first funding round. Mylerz has proven that its technology and model can be successful in a city as complex as Cairo. We plan on taking our experiences from Egypt to begin operations in Tunisia, Algeria, and Morocco by Q3 2022. This regional footprint will allow our customers to benefit from connected trade corridors across markets, which is key for our wider strategy to position Mylerz as the leading logistics partner for e-commerce across Africa.”
“We believe Lorax is the right partner for us to further expand Mylerz’s presence in Egypt as well as Africa. Together with Lorax and our handpicked experienced team, Mylerz is on track to become the first fully integrated e-commerce logistics solutions service provider in Africa.”
Ashraf Zaki, Managing Partner at Lorax Capital Partners, added, “We are excited to partner with Samer and the Mylerz team who have demonstrated their wealth of experience in rapidly growing Mylerz into a leader and innovator in the e-commerce logistics industry. Mylerz has leveraged its know-how and premium technology offering to address several problems associated with last-mile delivery in Egypt including complex routes, the prevalence of cash, and diverse merchants with diverse needs.
“Lorax is backing Mylerz to become the continent’s first fully integrated e-commerce logistics player, bringing a unique blend of premium customer service and efficient delivery services to regional businesses and consumers alike.”
Ashraf Sabry, CEO of Fawry, added, “Fawry’s investment in Mylerz is part of our strategy to build an integrated commerce ecosystem in Egypt and explore international expansion opportunities with strong partners like Mylerz and Lorax.”