Logistics startup Flextock raises US$3m to strengthen its presence in Egypt

EGYPT – Flextock, a tech-enabled logistics startup, has raised pre-seed funding of US$3.25 million to scale its logistics solution across the MENA region and reach up to 1 million merchants. Flextock, with the help of the funding, wants to capture a large portion of MENA’s US$25 billion e-commerce logistics market. The company plans to put the funding into strengthening its presence in Egypt, technology, recruitment and regional expansion before the end of the year. Participating investors in the round include Egyptian VC, Foundation Ventures, Y Combinator, CRE Ventures, B&Y Ventures…

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