Egyptian logistics startup Mylerz has secured more than $2 million in fresh debt and equity financing from existing investors, underscoring continued confidence in the country’s e-commerce infrastructure despite a more cautious funding environment across Africa.
The round was led by Lorax Capital Partners, with participation from digital payments giant Fawry and other existing shareholders, the company said Tuesday.
The funding will be used to strengthen Mylerz’s balance sheet, improve working capital and expand fulfilment centers, delivery capacity and proprietary logistics technology as demand for online shopping and cross-border commerce continues to rise in Egypt.
“This fresh funding is a strong vote of confidence from partners who know our business well,” founder and Chief Executive Officer Samer Gharaibeh said in a statement. “Egypt remains the heart of our operations, and this capital allows us to invest with conviction in the infrastructure, technology and people that keep us delivering for our merchants and their customers every day.”
Founded in 2019, Mylerz has grown into one of Egypt’s largest independent providers of integrated e-commerce logistics, offering warehousing, fulfilment and last-mile delivery services to online retailers. Its technology platform enables merchants to manage inventory, shipments and delivery operations from a single interface while supporting same-day and next-day delivery across much of the country.
The latest investment follows the company’s $9.6 million fundraising in 2022, reflecting investors’ willingness to back businesses with established operations and clear paths to profitability rather than high-growth expansion strategies that characterized earlier venture capital cycles.
The financing comes as Egypt’s e-commerce market continues to expand, fueled by rising smartphone adoption, digital payments and growing consumer confidence in online shopping. While online retail penetration remains below more mature markets, increasing demand has created opportunities for logistics providers capable of delivering faster fulfilment and broader geographic coverage.
For Mylerz, the emphasis is on strengthening domestic infrastructure rather than pursuing regional expansion. The company plans to increase fulfilment capacity, expand its delivery network and continue investing in the technology that supports its operations.
The investment also highlights the increasingly strategic relationship between fintech and logistics in Egypt’s digital economy. Fawry’s participation signals growing interest in connecting payments, fulfilment and delivery into more integrated commerce ecosystems as merchants seek end-to-end solutions for selling online.
Across Africa, investors have become more selective following a slowdown in venture funding over the past two years, favoring companies with resilient business models, predictable revenues and tangible infrastructure assets. Logistics firms serving the continent’s expanding digital commerce sector have remained among the beneficiaries, as efficient delivery networks are widely viewed as essential to unlocking the next phase of online retail growth.
For Mylerz, the new capital provides additional resources to scale its logistics network while reinforcing a strategy centered on operational efficiency and service reliability—two factors increasingly determining success as competition intensifies in Egypt’s fast-growing e-commerce market.