Bosta lands 7-figure Series A investment from DPDgroup and Fawry
Egyptian last-mile delivery provider Bosta received a seven-figure Series A investment from Europe’s second largest operator in the courier, express and parcel (CEP) industry DPDgroup, which delivers more than 5.2 million parcels worldwide every day. Egyptian e-payment leader Fawry and historical backer of Bosta is also part of this new round.
Focused on growth, Bosta leverages technology to empower and enable e-commerce businesses in Egypt, with the aim of being a one-stop-shop for delivery solutions. Accordingly, the company has served over 5,000 e-commerce businesses, and had previously received investment from Fawry, Numu Capital and Cairo Angels.
This marks DPDgroup’s first ever investment in Egypt, a country whose potential is clearly recognized. DPDgroup will bring all its support to help Bosta become one of the leading parcel operators in Egypt. with a minority stake in Bosta.
“The e-commerce industry in Egypt and the whole region is looking at a very positive outlook in the coming years. For instance, in 2019, e-commerce as an industry witnessed the second-largest number of investment deals in MENA, according to Magnitt,” CEO of Bosta Mohamed Ezzat said. “We are thrilled to be one of the key pillars of that movement, and DPDgroup’s investment only solidifies our role even further.”
Being apt to disrupt the local e-commerce industry, Bosta offers its clients next-day delivery, handles exchange shipments and customer returns, as well as cash collection – all backed up by the company’s 97% successful delivery rate.
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