Khazenly, an Egyptian startup in digital logistics, has raised US$2.5million to fund product development and quadruple its facility.
Mohamed Younes, Osama Alijammali and Mohamed Montasser founded the company in the middle of 2021. Khazenly the company has created a single-stop solution that covers all aspects of fulfilment services including warehousing to cross-docking, transport, delivery and cash collection.
The startup’s end-to-end platform means that retailers and e-commerce entrepreneurs can digitally optimise their fulfilment processes, when selling online (B2C), via retail stores (B2B), marketplaces, cross-border, or any combination of these channels.
Arzan Venture Capital, Shorooq Partner, and other regional venture capitalists led the US$2.5m seed financing round. Additional investors include Camel Ventures, Averroes Ventures and other angel investors.
Proceeds will be used to develop Khazenly’s products and services, and quadruple its existing facilities. Khazenly will continue its rapid growth trajectory in 2022, and support geographic expansion.
“At Khazenly, our simplified, technology-fueled platform, high-calibre experienced team, and 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’s the perfect moment to welcome Arzan Venture Capital as well Shorooq Partners, our leading investors. We look forward working with them and all of our other investors during this exciting time. We are very proud of our achievements to date, and are thrilled about the immediate future.”
Since inception in 2021, Khazenly has become the partner of choice for a rapidly growing number of merchants, including some of Egypt’s most exciting companies, across diverse industries – apparel & clothing, electronics, home accessories and FMCG. Khazenly already has a figure of eight-digit gross merchandise value and its platform supports clients in more than 16,000 self service activities.
Khazenly plans to continue expanding its portfolio of data-driven products, such as its flagship Mobile Dark Stores, which elevate the merchants’ experience by forecasting the products to be warehoused in line with market demand, while also enhancing shopper experience by ensuring a prompt 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.
Shorooq Partners partner Tamer Azer said that e-commerce has seen a rise globally due to disruptions such as the pandemic. This proved that fulfillment really does make the globe go around.
“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.”