Mylerz, a last-mile delivery and fulfillment startup has raised $9.6 million in seed round to grow its cash collection stations and expand into other parts of North Africa including Tunisia, Algeria and Morocco by Q3 2022. Moreso, Mylerz seeks to be a leading e-commerce company in Africa as it eyes the East African market.
Topping the round was Lorax Capital Partners, an Egypt-based private equity firm with participation from Fawry, an e-payment company.
Samer Gharaibeh founded Mylerz in 2019 to facilitate same-day delivery of goods without the hitches usually accompanied with logistics.
Mylerz is a parcel delivery company set out to help its partners achieve an end-to-end same-day delivery. The startup allows for order placement and tracking en route of delivery. Its fulfilment hubs are dispersed across Egypt where it is currently operative and acts as storage units until final delivery. These hubs make it easy for customers to easily connect with the logistics company.
With a fleet of over 350 eco-friendly vehicles, Mylerz ensures seamless delivery of orders to its 21 fulfilment centres. In addition to this, the startup plans to open a 25,000 square meter hub that will function as warehouses for goods till final delivery.
The startup’s partnership with Fawry will enable it to leverage Fawry’s electronic payment and cash collection services. Fawry’s over 250,000 agents will help Mylerz deposit cash collected from buyers since cash on delivery is still the preferred method of payment in Egypt, said Mylerz Founder and CEO, Samer Gharaibeh.
“We are excited to announce the close of our first funding round. Mylerz has proven that its technology and model can be successful in a city as complex as Cairo.
“This regional footprint will allow our customers to benefit from connected trade corridors across markets, which is key for our wider strategy to position Mylerz as the leading logistics partner for e-commerce across Africa,” he added.
Ashraf Zaki, Managing Partner at Lorax Capital Partners, commented, “We are excited to partner with Samer and the team who have demonstrated their wealth of experience in rapidly growing Mylerz into a leader and innovator in the e-commerce logistics industry.
“Mylerz has leveraged its know-how and premium technology offering to address several problems associated with last-mile delivery in Egypt including complex routes, the prevalence of cash, and diverse merchants with diverse needs,” he stated.