FundingLogistics

Egyptian On-Demand Logistics Startup YFS Banks $7m Series A Funding Round

Egyptian startup Yalla Fel Sekka (YFS), an on-demand logistics provider specialising in instant delivery and dark store management, has secured a US$7 million Series A funding round to expand its presence in Egypt and across the MENA region.

Co-founded by Khashayar Mahdavi and Yasmine Abdel Karim in 2020, YFS leverages its proprietary, data-driven technology to provide customers with near-instant deliveries. The company has already completed two million deliveries in Egypt, and is active in Cairo, Giza, Alexandria, Mansoura, and Tanta.

“We are now delivering over 10,000 orders per day while being gross margin positive only 18 months after launch in a vibrant but competitive market. Our gross merchandise volume is growing at a monthly rate of 20 per cent and our customer retention is above 90 per cent,” said Karim.

The funding round was led by DisruptAD, ADQ’s venture platform, and will be used by YFS to expand its presence in cities across Egypt and the MENA region, while continuing to build out its network of hubs and optimise productivity. It will focus on furthering its leadership in machine learning and in developing its innovative operational strategies.

“We are very pleased to welcome DisruptAD alongside our original seed investors as we see tremendous growth and opportunities ahead. YFS’s accelerating growth in its fleet size, a pool of drivers, micro-warehouses and dark stores is creating a powerful network effect, enabling us to dominate instant delivery in Egypt,” Mahdavi said.

Amer Al Ameri, head of venture capital and technology investments at ADQ, said supporting the YFS team and its execution capabilities represented a long-term commitment on the part of his firm to boosting impactful future-focused solutions. 

“We are actively deploying capital into innovative businesses to sustain value creation with long-term economic benefits. By bolstering YFS’ development plans we will enable Khashayar and Yasmine to expand their leadership position in Egypt and beyond,” Al Ameri said.

Source
Disrupt Africa

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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