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Flextock; Rapidly Emerging E-Commerce Enabler Bolsters Regional Presence

Flextock, a leading e-commerce enabler in the Middle East, is solidifying its presence in the region. Co-founded by CEO, Mohamed Mossaad and COO, Enas Siam, the start-up launched in January 2021 and witnessed remarkable results shortly after expanding into Saudi Arabia. This enabled the tech-centric company to 10x its Year-over-Year (YoY) net revenues last year while also more than doubling its gross profit margin by leveraging technology and scale.

Saudi arabiaMohamed mossaadMiddle eastEnas siam

Egypt s Flextock closes $3 25M in the largest pre-seed yet in MENA – TechCrunch

Egypt’s Flextock closes $3.25M in the largest pre-seed yet in MENA Flextock, one of the 10 African startups from the recent Y Combinator winter batch, has bagged an impressive pre-seed round just two months after graduation. The five-month-old company, which helps consumers and businesses manage e-commerce and fulfillment operations from warehousing and logistics to delivery and cash collection has closed a $3.25 million pre-seed investment. As it stands, this is a record high for the MENA region, which also had a record-high two months ago in fellow Egyptian and YC winter batch startup Dayra. The fintech company raised $3 million in debt and equity.

Mazen nadimMohamed mossaadSequoia capitalFoundation venturesAbdul latif jameel technology fundEgyptian vc foundation venturesEnas siamAlter globalAccess bridgePartnerships managerAlthough flexportமஜேன் நாடிம்சீக்வோயா மூலதனம்அடித்தளம் முயற்சிகள்மாற்ற உலகளாவியநுழைவு பாலம்

Flextock raises $3 25 million pre-Seed round

Flextock raises $3.25 million pre-Seed round Egypt-based e-commerce logistics marketplace Flextock, has raised a $3.25 million pre-Seed funding round from regional investors including Egypt-based Foundation Ventures, Saudi Arabia-based Jameel Investment Management Company, UAE-based Access Bridge Ventures, along with undisclosed angel investors in the GCC. Global investors in this round include China-based MSA Capital, South Africa-based CRE Venture Capital, US-based Alter Global, YC Combinator, logistics firm Flexport, and B&Y Venture Partners. This is in addition to a personal investment from a Sequoia Capital scout. Founded in early 2021 by Mohamed Mossaad and Enas Siam, Flextock offers a logistics-as-a-service platform that provides fulfillment services to e-commerce businesses. It has so far signed more than 100 merchants on its platform and includes 5000 stock-keeping units (SKUs).

South africaJesse sullivanMazen nadimBen harbrugMohamed mossaadJameel investment management company saudi arabiaSaudi jameel investment management companySequoia capitalFoundation venturesFoundation ventures egyptFlextock coEgypt based foundation venturesAccess bridge venturesSouth africa basedAlter globalEnas siam

Flextock is a YC-backed e-commerce fulfillment provider for Africa and the Middle East – TechCrunch

Flextock is a YC-backed e-commerce fulfillment provider for Africa and the Middle East When merchants launch their e-commerce businesses, they can easily manage the end-to-end operations in the early stages. But as they begin to grow, managing their own operations, from warehousing and logistics to delivery and cash collection, can become difficult. This can prevent them from scaling effectively despite having a steady inflow of demand. Now, there’s a need to offload some of this workload. This is where e-commerce fulfillment services come in handy. Today, Flextock, one such company providing this service to businesses and consumers in Egypt, is announcing that it is part of Y Combinator’s Winter 2021 batch. Founded by Mohamed Mossaad and Enas Siam in September 2020, the Egyptian company launched in stealth this January.

Saudi arabiaMohamed mossaadBain companyEnas siamMiddle eastNorth africanGeneral managerCareem busChief strategyMiddle easternசவுதி அரேபியாபைன் நிறுவனம்நடுத்தர கிழக்குஜநரல் மேலாளர்தலைமை மூலோபாயம்

Flextock is a YC-backed e-commerce fulfillment provider for Africa and the Middle East

Flextock is a YC-backed e-commerce fulfillment provider for Africa and the Middle East
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