Mylerz, a Cairo-based e-commerce fulfillment startup, plans to enter three new markets in North Africa and expand across Egypt over the next three months amid $9.6 million in funding. dollars she just got.
The startup also has its sights set on the growing e-commerce market in East Africa, with the long-term goal of becoming a pan-African shipping logistics provider – tapping into the e-commerce market in Africa. , which has experienced annual growth of 18%. growth since 2014.
Mylerz’s growth funding round was led by Lorax Capital Partners, an Egypt-based private equity firm with participation from Fawry, one of the largest e-payment companies in Egypt. As Mylerz expands to Algeria, Tunisia and Morocco, Fawry, its payment partner, will come to provide electronic payment and collection services.
“Our immediate plan is to expand across Egypt, open up new markets and facilitate cross-border trade for our customers. We have the right partners to make this happen and to 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 the money collected from buyers, as cash on delivery is still the preferred payment method in Egypt. It will make our business less risky, and the reduced risk means we can grow much faster,” Gharaibeh said.
Ashraf Sabry, CEO of Fawry, said the investment in Mylerz is part of its strategy “to build an integrated commerce ecosystem in Egypt and explore opportunities for international expansion with strong partners like Mylerz and Lorax”.
Gharaibeh founded Mylerz in November 2019 drawing inspiration from his experience at Aramex, a multinational logistics and fulfillment company based in the United Arab Emirates, where he worked for 23 years, his last position being as Head of ‘Africa.
“Through 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. favorite e-commerce,” said Gharaibeh.
The Mylerz platform allows its partners to track orders sent for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics. Picture credits: Mylerz
The Mylerz platform allows its partners to track orders sent for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics.
The startup claims to provide same-day deliveries on behalf of hundreds of its partners.
Gharaibeh told TechCrunch that Mylerz has 21 fulfillment centers and plans to open a 25,000 sq m hub, its largest yet, to meet growing demand for storage, fulfillment and deliveries. of the last mile.
Fulfillment centers, Gharaibeh said, are spread out to ensure they are close 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 them fast enough to deliver on our promise of same-day delivery,” he said.
Mylerz also operates a fleet of over 350 eco-friendly vehicles powered by compressed natural gas (CNG). The initial cost of these vehicles is higher than that of conventional vehicles, but this is offset by their lower fuel demand.
Ashraf Zaki, Managing Partner at Lorax Capital Partners, said, “Mylerz has leveraged its expertise and high-end technology offering to solve several challenges associated with last mile delivery in Egypt, including complex routes, 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, offering a unique blend of premium customer service and efficient delivery services to regional businesses and consumers.