Mylerz, an Egyptian last-mile delivery and fulfillment innovation company, today announced the closing of a $9.6 million round led by Lorax Capital Partners to scale and expand their operations in Egypt and North Africa. Fawry, Egypt’s leading payment company who also participated in the round, will help bolster Mylerz’s cash collection services for its merchants. Launched in 2019, Mylerz currently operates a fleet of over 350 eco-friendly vehicles and 21 local fulfillment hubs strategically positioned across Egypt. Mylerz’s proprietary logistics management technology allows it to deliver e-commerce products to customers in city centers in as fast as same-day delivery. Ashraf Sabry, CEO of Fawry, added, “Fawry’s investment in Mylerz is part of our strategy to build an integrated commerce ecosystem in Egypt and explore international expansion opportunities with strong partners like Mylerz and Lorax.”

Source: The North Africa Journal May 11, 2022 11:10 UTC