Mylerz Raises $2M to Expand Egypt Logistics Network
TLDR
- Mylerz, an Egyptian logistics startup, raised over $2 million in funding led by Lorax Capital Partners, with participation from Fawry and existing investors.
- The funding will be used to strengthen Mylerz's balance sheet, increase working capital, and expand its fulfillment and delivery infrastructure across Egypt.
- Mylerz's latest funding highlights the importance of logistics infrastructure in Egypt's expanding e-commerce market, focusing on operational efficiency and handling higher shipment volumes to meet the growing demand in the market.
Egyptian logistics startup Mylerz raised more than EGP100 million, or over $2 million, in a funding round led by Lorax Capital Partners with participation from Fawry and existing investors.
Founded in 2019 by Samer Gharaibeh, Mylerz provides e-commerce logistics, fulfilment and last-mile delivery services through a technology platform that helps merchants manage shipments, warehousing and delivery operations.
The company said it will use the new funding to strengthen its balance sheet, increase working capital and expand its fulfilment and delivery infrastructure across Egypt. The investment will also support network capacity and further development of its technology platform for same-day and next-day deliveries.
Mylerz said the funding will help it meet rising demand from Egypt’s growing e-commerce and cross-border trade sectors while maintaining service quality for merchants and consumers. The company raised $9.6 million in 2022 and has continued expanding its domestic operations.
The latest investment comes from existing shareholders, reflecting continued backing for the company as it competes with local and international logistics providers serving Egypt’s online retail market.
Points clés à retenir
Mylerz’s latest funding reflects the growing importance of logistics infrastructure as Egypt’s e-commerce market expands. While online shopping platforms often receive the most attention, fulfilment centers, warehousing and last-mile delivery networks are the infrastructure that allow online retail to scale. The company’s decision to use the new capital for working capital and network expansion rather than rapid geographic growth suggests a focus on improving operational efficiency and handling higher shipment volumes. The participation of Fawry, one of Egypt’s largest digital payments companies, also points to closer links between payments, commerce and logistics as merchants increasingly seek integrated services. Egypt remains one of the region’s largest e-commerce markets, supported by a large population, rising internet use and growing digital payments adoption. However, logistics remains a competitive business with pressure on delivery costs, speed and profitability. Companies must continue investing in technology, routing, fulfilment and customer service while keeping costs under control. For Mylerz, the new funding strengthens its balance sheet and gives it more capacity to compete as merchants demand faster delivery and more reliable fulfilment services.
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