Egyptian courier app Bosta raises funding

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Egyptian on-demand courier app Bosta has raised funding from Dubai-based Numu Capital, with the aim of taking the instant delivery service global.

Founded last year, Bosta provides an on-demand courier app with a B2C focus, allowing businesses to send parcels to their customers. Businesses and customers can monitor their deliveries in real time and communicate with the courier along the way.

Key to Bosta’s offering is the promise to complete any delivery within two hours, for which the startup has dubbed its service “instant delivery”.

The startup has achieved substantial traction since launching, which is what Numu Capital says prompted the investment.

“We were impressed by the traction that was achieved by Bosta team in just a few months after launching. Our investment strategy is focused on early stage startups, and we are used to meeting companies that have not achieved much progress in terms of user engagement and revenue generation. Bosta was definitely an exception, and their achievement is a testament to the team’s execution skills,” said Jamal Al-Mutarreb, managing director of Numu Capital.

Bosta plans to use the funds to capture further market share, and has ambitions to take the instant delivery model global.

The startup hopes to raise a further funding round later this year.

 

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Inspired and excited by the African tech entrepreneurial scene, Gabriella spends her time travelling around the continent to report on the most innovative tech startups, the most active investors, and the latest trends emerging in the ecosystem.

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