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).