Khazenly, an Egyptian digital logistics firm, has secured $2.5 million in initial capital to accelerate product development and increase its facility space.
Khazenly, which was founded in mid-2021 by Mohamed Younes, Osama Aljammali, Mohamed Montasser, and Ahmed Dewidar, has created a one-stop-shop solution for the complete range of fulfillment services, including storage, cross-docking, transportation, delivery, and payment collection.
Retailers and e-commerce entrepreneurs may use the startup’s end-to-end platform to digitally optimize their fulfillment operations while selling online (B2C), through retail shops (B2B), marketplaces, cross-border, or any combination of these channels.
Leading regional venture capitalists Arzan Venture Capital and Shorooq Partners co-led the US $2.5 million seed investment round. Other investors include Camel Ventures, Averroes Ventures, and several angel investors.
The money will be used to improve Khazenly’s goods and services, as well as triple the company’s current facilities. Khazenly’s geographic expansion will be aided as it maintains its strong development trajectory in 2022.
“At Khazenly, our simplified, technology-fueled platform, high-calibre experienced team, and a network of market-leading partners help merchants grow and scale. I am delighted to announce our successful seed funding round, meaning we can build on our success and position Khazenly as a regional leader in fulfilment and logistics, as we shape the future of e-commerce in Egypt and beyond,” said Younes.
“We are on the cusp of tremendous client growth in Egypt due to our constantly innovative solutions. It is the perfect time to welcome our lead investors Arzan Venture Capital and Shorooq Partners; we look forward to working with them and all our other investors at this exciting time. We are very proud of our achievements to date, and are thrilled about the immediate future.”
Khazenly has been the preferred partner for a constantly rising number of merchants, including some of Egypt’s most interesting brands, in a variety of industries, including fashion and garments, electronics, home accessories, and FMCG, since its establishment in 2021. Khazenly’s platform helps customers on over 16,000 self-service operations, and it has already handled an eight-digit gross merchandise value.
Khazenly intends to extend its range of data-driven solutions, such as its flagship Mobile Dark Stores, which improve merchant experience by anticipating merchandise warehoused in line with market demand, while simultaneously improving consumer experience by assuring a timely delivery window.
“The Khazenly team has demonstrated the ability to not just execute and deliver outstanding results, but to also offer innovative products and solutions that allow brands and merchants to sell more products to more customers, more frequently and in more locations – contributing to wider economic growth and development,” said Laith Zraikat, partner at Arzan Venture Capital.
Tamer Azer, a partner at Shorooq Partners, believes that the worldwide expansion of e-commerce, particularly in the aftermath of the pandemic, has demonstrated that fulfilment truly does make the world go round.
“It also empowers millions of people and businesses and enables them to reach customers the world over, as part of an increasingly global marketplace,” he said.
“We are thrilled to be working with Khazenly and its stellar team, as we firmly believe their products and services have the capacity to drive forward the fulfilment industry in Egypt and the wider region, by making sure the world keeps turning for both buyers and sellers. We couldn’t be more excited to be a part of their journey.”
