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Pargo brings its smart logistics services to Egypt: South Africa-based logistics firm Pargo has secured some USD 4 mn in funding to fuel its expansion into Egypt, a press release (pdf) said on Thursday. The funding round was led by 3Capital Ventures, Endeavor, SAAD Investment Holdings and UW Ventures. Pargo has rolled out its collect and return services — which allow people to collect or return their online orders at their convenience — across 500 pickup points in Egypt, including Fawry, Circle-K, and Basata stores. Pargo will offer its services to e-commerce platform Noon.
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More on Pargo: The logistics company launched its pilot program in Egypt back in 2023, testing its services with 150 pickup points before its official rollout, according to the statement. The firm is looking to expand across the region, with a target of setting up 7k pickup points by 2026.
OTHER STARTUP NEWS-
Moroccan cross-border logistics startup Colis.ma has secured USD 300k in pre-seed funding from Moroccan venture capital firm Witamax, a statement said on Thursday. The funding will allow the company to enhance its coverage in Morocco and six European countries, and to expand further in Africa, starting with Western Africa.
What they do: Colis is a platform and mobile app that allows customers to compare prices on the express transportation market and track shipments online, according to Colsi.ma ’s website. The startup has delivered over 50k parcels to more than 55 destinations in Europe since its founding in 2022, and increased its annual recurring revenue by 380% y-o-y in 2023. It received a USD 45k grant in February 2024 after completing the Orange Corners Program, and raised USD 50k from African investor the Baobab Network after joining its accelerator program.
WATCH THIS SPACE- Next funding round in 2026: Several African and international venture capital firms have expressed interest in joining Colis.ma’s next fundraising round in early 2026, the statement said.
