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Egypt-based logistics startup Mylerz has raised more than $2 million, equivalent to EGP 100 million, in a fresh funding round led by Lorax Capital Partners, with participation from Egyptian payments company Fawry and a group of existing investors. The company plans to use the proceeds to strengthen its balance sheet, finance working capital and expand its logistics infrastructure across Egypt.
The round, which combines new debt and equity, was raised entirely from Mylerz’s existing shareholders. The new capital strengthens Mylerz’s balance sheet and working capital position, enabling the company to scale its fulfilment infrastructure, expand network capacity, and continue investing in the proprietary technology platform that underpins its same-day and next-day delivery proposition. It is also expected to reinforce Mylerz’s ability to serve the fast-growing volumes moving through Egypt’s e-commerce and cross-border trade channels.
Lorax Capital Partners led the round, marking its continued backing of the company since first investing in 2022. Fawry, Egypt’s leading payments company, also participated alongside a group of Mylerz’s existing investors.
Mylerz said the financing positions it to capture rising demand while maintaining the operating discipline and service quality that have defined the business since it launched. The company intends to put the funds toward expanding fulfilment capacity, growing its network footprint, and continuing to build out the technology platform that supports its delivery operations.
“This fresh funding is a strong vote of confidence from partners who know our business well. Egypt remains the heart of our operations, and this capital allows us to invest with conviction in the infrastructure, technology, and people that keep us delivering for our merchants and their customers every day,” said Samer Gharaibeh, founder and Chief Executive Officer of Mylerz.
Founded in 2019 by Gharaibeh, Mylerz provides end-to-end e-commerce logistics, fulfilment and last-mile delivery services, supported by a technology platform that allows merchants to manage shipments and operations efficiently. According to the company’s website, Mylerz now operates across Egypt, Morocco, Jordan, Tunisia and Algeria, offering domestic last-mile delivery, cross-border e-commerce solutions, international express shipping, fulfilment services, heavyweight delivery and full supply chain operations.
The company says it maintains delivery success rates of between 91 and 99%, which it describes as well above the industry average of 82%, alongside services such as next-day delivery, cash on delivery, mobile wallet payments and instant cash refunds. The new funding follows the company’s continued expansion of its domestic footprint, as it keeps investing in fulfilment capacity and operational infrastructure.
This is not the first time Lorax Capital Partners has backed Mylerz. In May 2022, the startup closed a $9.6 million round led by the firm, also with participation from Fawry. At the time, Mylerz operated a fleet of more than 350 vehicles and 21 local fulfilment hubs across Egypt, and had delivered two million packages within two years of launching.
That round was earmarked to fund Mylerz’s expansion into North Africa and to build a new AI-enabled, automated 25,000-square-metre cross-docking fulfilment centre west of Cairo.
Commenting on the 2022 raise, Ashraf Zaki, Managing Partner at Lorax Capital Partners, said: “Lorax is backing Mylerz to become the continent’s first fully integrated e-commerce logistics player, bringing a unique blend of premium customer service and efficient delivery services to regional businesses and consumers alike.”
With this latest round, Mylerz’s total disclosed funding from Lorax and its co-investors now stands at more than $11.6 million as the company continues to deepen its presence in Egypt’s logistics sector.
