​ExpandCart closes $2.7M preseries B round

ExpandCart is a Cairo-based eCommerce platform builder. It has raised $2.7 Million in a preSeries B bridge financing round. This was led by Hong Kong’s Betatron Venture Group and included participation from Sawari Ventures Egypt and Agility Ventures Kuwait. ExpandCart, an e-commerce platform developer, claims to have served over 25,000 merchants in Egypt, Saudi Arabia and Kuwait.

ExpandCart was founded in 2016 and has customers in 40 countries. It boasts a client base of 25,000 merchants that have earned it over $850 million GMV. ExpandCart will be able to continue its operations in the current markets and focus on R&D technology development while also offering new products that will enable a million merchants across MENA within the next three-years.

ExpandCart is aiming to kick-start a new financing round that will be dedicated to market expansion as well as developing a comprehensive marketplace for commerce products. ExpandCart’s co-founder and CEO Amr Shawqy stated that they are more ” customer-centric”, ” create world-class operations and continue to build a comprehensive range of ” products to support our merchants.

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