Online retailing platform, ExpandCart from Egypt, collects $2.5 million in Series A funding to aid merchants in establishing their web-based businesses.
ExpandCart Secures $2.5 Million in Series A Funding
ExpandCart, a Cairo-based ecommerce enablement platform, has announced a successful Series A round of funding, raising $2.5 million. This investment will be used to further develop digital commerce solutions and bridge the gap between suppliers and merchants in the Middle East.
Founded in 2013 by Amr Shawqy and Sameh Nabil, ExpandCart empowers individuals and businesses to create online stores in Arabic and English. The platform offers a comprehensive suite of solutions, including branded mobile apps for merchants, an integrated point-of-sale system for retailers to manage their omnichannel presence, and easy integration with local and regional payment gateways and logistics solutions.
With over 20,000 merchants using its services, ExpandCart claims to be the leading ecommerce platform in the region. The startup's plans start at $19 per month, making it a slightly cheaper alternative to Shopify.
The funding round was led by Egyptian VC Sawari Ventures, Agility Ventures, and Graphene Ventures. Tiger Global, Endeavor Catalyst, and other regional and international investors also contributed to ExpandCart's growth.
This investment marks a significant milestone for ExpandCart as it continues to expand its reach and provide businesses with the tools they need to succeed in the digital age. As the ecommerce landscape in the Middle East continues to grow, ExpandCart is well-positioned to lead the way.
ExpandCart's mission is to empower businesses to thrive online, and with this new funding, it is one step closer to achieving that goal. As the company continues to grow and innovate, it will undoubtedly play a crucial role in shaping the future of ecommerce in the Middle East.
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