Flextock lands significant pre-seed round

Flextock, an Egypt-based e-commerce logistics marketplace has raised one of the MENA region’s largest-ever pre-seed funding rounds from a mix of regional and global venture capital firms and angel investors. In total, the investor group is investing $3.25  million in the startup which will use the capital to continue developing its technology, hire new people, and grow its client list in Egypt. The firm will also start to explore regional expansion possibilities before the end of this year.

Launched earlier this year by Mohamed Mossaad and Enas Siam, Flextock provides merchants a logistics-as-a-service platform to fulfill their e-commerce orders on demand. The company has been growing exponentially, having already signed up more than 100 merchants to the platform and being able to fulfill as many as 5,000 individual stock items.

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