Egypt-based logistics startup Bosta, has raised an undisclosed amount in investment led by Avanz Capital Egypt (ACE).
Founded in 2017 by Mohamed Ezzat and Ahmed Gaber, Bosta is a market leader in technology-based shipping and logistics solutions for E-commerce businesses in Egypt. The company stands out as the market leader in Egypt, having served more than 25,000 businesses since its inception. Bosta’s commitment to innovation and customer satisfaction has earned it the highest success rate in the market.
In this context, Mohamed Ezzat, the Chief Executive Officer, said: “The strategic investment from leading firms like Avanz Manara signifies a commitment to supporting Bosta’s mission of transforming the e-commerce and logistics landscape in the region. This investment will further propel Bosta’s technological advancements, expand its reach, and solidify its position as an industry leader in Egypt and Saudi Arabia”.
Bosta’s cutting-edge technology sets it apart, optimising first, middle, and last-mile delivery processes to provide unparalleled efficiency and convenience. The platform guarantees next-day delivery across Egypt and Saudi Arabia, positioning Bosta as a reliable partner for businesses and consumers alike.
One of Bosta’s key contributions to the market is its ability to address the chronic issues faced by merchants. The company has implemented an innovative solution that ensures merchants receive their collected cash instantly, offering a streamlined and efficient financial process for businesses partnering with Bosta.
Haytham Wagih, the Managing Director of Avanz Capital Egypt said: “This is a milestone transaction for Avanz Manara and compliments our ambition to support promising SMEs consistent with Avanz Manara’s overall approach to investing. Bosta has all the hallmarks of an Avanz Manara investment: a strong management team, a unique value proposition with a large and growing customer base, and a substantial opportunity to expand market share locally and regionally”.
Earlier in January, Bosta raised investment from Axian Group. The amount raised remained undisclosed.