Tech

Egyptian delivery startup, Mylerz, raises $9.6 million to expand into North African countries

Published

2 years ago

July 16, 2022

Egyptian e-commerce last-mile delivery startup, Mylerz, has secured a $9.6 million funds from Egypt’s leading payment company, Lorax Capital Partners and Fawry, to help its expansion growth into the job markets in other North African countries in Morocco, Tunisia and Algeria.

The startup’s founder and Chief Executive Officer (CEO), Samer Gharaibe, who announced the funding initiative, said the startup’s plans are to “strengthen employment in the three countries and also provide employees with the training necessary to learn more about the company’s industry.”

Gharaibe said as part of the first round of financing Mylerz obtained since its launch in 2019, the fund is expected to help finance the Egyptian company’s expansion into Algeria, Tunisia, and Morocco in the last quarter of 2022.

In an interview with Morocco World News on Saturday, Gharaibe said with approximately 700 employees in Egypt alone, Mylerz’s regional footprint is set to “open borders for e-commerce so that small and medium enterprises (SMEs), and other actors involved in the ecosystem will be able to trade together and sell their products,” Gharaibe stressed.

Gharaibe added that as part of its expansion plans, Mylerz is undertaking to build a 25,000 m² automated fulfillment center in Cairo by the fourth quarter of 2022, eyeing to become a leading provider of integrated e-commerce logistics solutions in the continent.

On it’s part, Lorax, an Egyptian private equity firm, says it is backing Mylerz “to become the continent’s first fully integrated e-commerce logistics player, bringing a unique blend of premium customer service and efficient delivery services to regional businesses and consumers alike,” a statement by Ashraf Zaki, Managing Partner at Lorax, stated.

Related Topics:Egypt Featured Funding Mylerz Startup

Click to comment

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

4 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation