Egyptian company Mylerz raises $9.6M for its e-commerce service and expects growth across Africa

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MilersThe Cairo-based e-commerce startup plans to expand into three new markets in North Africa and expand in Egypt over the next three months, amid fresh funding of $9.6 million.

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The startup is also eyeing the growing e-commerce market in East Africa with a long-term goal of becoming a pan-African transport logistics provider by tapping into Africa’s e-commerce market, which is growing at an 18% annual rate. growth since 2014.

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Mylerz’s growth funding round was led by Lorax Capital Partners, an Egyptian private equity firm with participation from Fawry, one of the largest e-payments companies in Egypt. As Mylerz expands in Algeria, Tunisia and Morocco, Fawry, its payment partner, will provide electronic payment and collection services.

“Our immediate plan is to expand throughout Egypt, open up new markets and facilitate cross-border trade for our clients. We have the right partners to make this possible and grow our end-to-end logistics platform.” – Mylerz Founder and CEO, Samer Garaybe— told TechCrunch.

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“Over 250,000 Fawry agents will help us deposit cash received from buyers as cash on delivery is still the preferred payment method in Egypt. This will make our business less risky, and reducing risk means we can grow much faster,” Garaibe said.

Ashraf Sabry, CEO of Fawry, said the investment in Mylerz is part of his strategy “to build an integrated trading ecosystem in Egypt and explore opportunities for international expansion with strong partners like Mylerz and Lorax.”

The Mylerz platform allows its partners to track orders sent for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics. Image credits: Milers

Gharaybeh founded Mylerz in November 2019, drawing on his experience at Aramex, a multinational logistics and fulfillment company in the UAE, where he worked for 23 years, most recently as head of Africa.

“Due to my experience at Aramex, I understand the rules of different countries in Africa and know what partnerships are needed to be successful. I use this knowledge and experience to make Mylerz the preferred pan-African logistics provider and e-commerce partner,” said Garaibe.

The Mylerz platform allows its partners to track orders sent for delivery, change delivery destination or time, and generate business insights such as consumer behavior and demographics.

The startup says it provides same-day delivery on behalf of hundreds of its partners.

Garaibe told TechCrunch that Mylerz has 21 fulfillment centers and plans to open its largest 25,000 sq. m to keep up with growing demand for storage, order processing and last mile delivery.

Fulfillment centers, Garaybe said, are spread out to ensure they are in close proximity to customers for faster delivery. To date, Mylerz has delivered 2 million parcels.

“We use a decentralized system and these centers close to our customers help us consolidate packages and send them out for delivery fast enough to fulfill our same day delivery promise,” he said.

Mylerz also operates a fleet of more than 350 environmentally friendly compressed natural gas (CNG) vehicles. The initial cost of these cars is higher compared to conventional ones, but this is offset by the lower need for fuel.

Ashraf Zaki, Managing Partner at Lorax Capital Partners, said: “Mylerz has used its know-how and premium technology to address a range of challenges associated with last mile delivery in Egypt, including complex routes, the prevalence of cash and the diversity of merchants with a variety of merchandise. . needs. Lorax is supporting Mylerz to become the first fully integrated e-commerce logistics player on the continent, offering a unique combination of superior customer service and efficient delivery services to both local businesses and consumers.”


Credit: techcrunch.com /

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