Egyptian logistics startup Mylerz has secured more than $2 million in fresh debt and equity financing from existing investors, underscoring continued confidence in the country’s e-commerce infrastructure despite a more cautious funding environment across Africa. The round was led by Lorax Capital Partners, with participation from digital payments giant Fawry and other existing shareholders, the company said Tuesday.
The funding will be used to strengthen Mylerz’s balance sheet, improve working capital and expand fulfilment centers, delivery capacity and proprietary logistics technology as demand for online shopping and cross-border commerce continues to rise in Egypt. Founded in 2019, Mylerz has grown into one of Egypt’s largest independent providers of integrated e-commerce logistics, offering warehousing, fulfilment and last-mile delivery services to online retailers.
The financing comes as Egypt’s e-commerce market continues to expand, fueled by rising smartphone adoption, digital payments and growing consumer confidence in online shopping. The investment also highlights the increasingly strategic relationship between fintech and logistics in Egypt’s digital economy.
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