by Mylerz, a Cairo-based e-commerce fulfillment startup, plans to enter three new markets in North Africa and expand in Egypt over the next three months in the context of the $9.6 million financing it just secured. obtain.
The startup also has its eyes on the growing e-commerce market in East Africa, with a long-term goal of becoming a pan-African shipping logistics provider, tapping into the e-commerce market in Africa, which has seen an 18% growth. annual. growth since 2014.
The Mylerz growth financing round was led by Lorax Capital Partners, an Egypt-based private equity firm with participation from Fawry, one of Egypt’s largest electronic payment companies. As Mylerz expands into Algeria, Tunisia and Morocco, Fawry, your payment partner, will join you in providing electronic payment and cash collection services.
“Our immediate plan is to expand throughout Egypt, open new markets and facilitate cross-border trade for our customers. We have the right partners to make this happen and grow our end-to-end logistics platform,” Mylerz founder and CEO Samer Gharaibeh told TechCrunch.
“Fawry’s more than 250,000 agents will help us deposit cash collected from buyers, as cash on delivery remains the preferred payment method in Egypt. This will make our business less risky and the reduced risk means we can grow much faster,” said Gharaibeh.
Ashraf Sabry, CEO of Fawry, said the investment in Mylerz is part of its strategy “to build an integrated trading ecosystem in Egypt and explore international expansion opportunities with strong partners like Mylerz and Lorax.”
Gharaibeh founded Mylerz in November 2019 from his experience at Aramex, a UAE-based multinational logistics and fulfillment company, where he worked for 23 years, most recently as Director of Africa.
“Because of my experience at Aramex, I understand the regulations of different countries in Africa and I know the right kind of partnerships to have in order to be successful. I am using this knowledge and experiences to make Mylerz the pan-African e-commerce partner and logistics provider of choice,” said Gharaibeh.
The Mylerz platform enables its partners to track orders submitted for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics. Image credits: Mylerz
The Mylerz platform allows its partners to track orders submitted for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics.
The startup says it offers same-day delivery on behalf of hundreds of its partners.
Gharaibeh told TechCrunch that Mylerz has 21 fulfillment centers and plans to open a 25,000-square-meter center, its largest yet, to keep up with growing demand for last-mile warehousing, order processing and delivery.
Fulfillment centers, Gharaibeh said, are spread out to ensure they are in close proximity to customers for faster deliveries. To date, Mylerz has delivered 2 million packages.
“We operate a decentralized system, and these hubs, which are close to our customers, help us consolidate packages and ship deliveries quickly enough to meet our same-day delivery promise,” he said.
Mylerz also operates a fleet of more than 350 environmentally friendly vehicles powered by compressed natural gas (CNG). The initial cost of these vehicles is higher compared to conventional vehicles, but this is offset by their lower fuel demand.
Ashraf Zaki, Managing Partner of Lorax Capital Partners, said: “Mylerz has leveraged its expertise and premium technology offering to address various issues associated with last-mile delivery in Egypt, including complex routes, the prevalence of cash, and various merchants with various needs. Lorax is supporting Mylerz to become the continent’s first fully integrated e-commerce logistics player, providing a unique combination of premium customer service and efficient delivery services for both regional businesses and consumers.”
