Egyptian Digital Logistics Startup Khazenly Raises $2.5 Million
Khazenly, the Cairo-based on-demand digital warehousing and fulfilment platform, announces its successful seed fundraise of $2.5 million. The funding round was co-led by leading regional venture capitalists Arzan Venture Capital – which specialised in innovative, early-stage startups, and Shorooq Partners focused on seed-stage tech funding across MENAP. Other investors included Fintech-focused fund – Camel Ventures, […]
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Mohamed Younes (CEO), Osama Aljammali (CCO), Mohamed Montasser (CXO), and Ahmed Dewidar (CTO) of Khazenly
Khazenly, the Cairo-based on-demand digital warehousing and fulfilment platform, announces its successful seed fundraise of $2.5 million.
The funding round was co-led by leading regional venture capitalists Arzan Venture Capital – which specialised in innovative, early-stage startups, and Shorooq Partners focused on seed-stage tech funding across MENAP. Other investors included Fintech-focused fund – Camel Ventures, Averroes Ventures, and various angel investors.
Proceeds will be used to develop Khazenly’s products and services and quadruple its existing facilities. The geographical expansion will also be supported as Khazenly continues its rapid growth trajectory during 2022.
Founded in mid-2021 by Mohamed Younes (CEO), Osama Aljammali (CCO), Mohamed Montasser (CXO), and Ahmed Dewidar (CTO), Khazenly is shaping the future of e-Commerce in Egypt. The Company’s convenient, affordable, transparent, omnichannel solution helps merchants grow their businesses and supercharge the digitalisation of their fulfilment processes.
Via its simple and transparent subscription-based packages, Khazenly’s fully-digitised platform is a one-stop-shop solution for the full spectrum of fulfilment services, from warehousing to cross-docking, transportation, delivery, and cash collection services. Its end-to-end platform means that retailers and ecommerce entrepreneurs can digitally optimise their fulfilment processes when selling online (B2C), via retail stores (B2B), marketplaces, cross-border, or a combination of these channels.
Mohamed Younes, Co-Founder and Chief Executive Officer, commented:
“At Khazenly, our simplified, technology-fueled platform, high-calibre experienced team, and network of market-leading partners help merchants grow and scale. I am delighted to announce our successful seed funding round, meaning we can build on our success and position Khazenly as a regional leader in fulfilment and logistics as we shape the future of ecommerce in Egypt and beyond.
“We are on the cusp of tremendous client growth in Egypt due to our constantly innovative solutions. It is the perfect time to welcome our lead investors Arzan Venture Capital and Shorooq Partners; we look forward to working with them and all our other investors at this exciting time. We are very proud of our achievements to date, and are thrilled about the immediate future.”
Khazenly plans to continue expanding its portfolio of data-driven products, such as its flagship Mobile Dark Stores, which elevate the merchants’ experience by forecasting the products to be warehoused in line with market demand, while also enhancing shopper experience by ensuring a prompt delivery window.
Laith Zraikat, Partner at Arzan Venture Capital, said:“The Khazenly team has demonstrated the ability to not just execute and deliver outstanding results, but to also offer innovative products and solutions that allow brands and merchants to sell more products to more customers, more frequently and in more locations – contributing to wider economic growth and development.
“With an increased focus globally on building more resilient supply chains, and a wider societal shift to ecommerce, our investment in Khazenly proves that the logistics tech and fulfillment sector is still up for disruption. We are excited to partner with the founders and the rest of the team to help grow Khazenly and bring their services to more businesses and consumers.”
Tamer Azer, Partner at Shorooq Partners, said: “The rise of ecommerce globally, especially following the disruptions seen in the pandemic, has shown that fulfilment really does make the world go round. It also empowers millions of people and businesses and enables them to reach customers the world over, as part of an increasingly global marketplace.”
