Egyptian courier start-up Bosta is gearing up for a multi-million-dollar fresh round of financing as it considers Saudi and Emirati markets by the year's end, its chief executive Mohamed Ezzat said recently.
The delivery newcomer currently has more than three thousand Egyptian clients, among them e-commerce platforms Jumia, Noon and Souq.com, which is owned by Amazon. Their backers include the Fawry e-payment company, Silicon Valley investors, and the European DPD courier network.
"We’re targeting expansion in Saudi Arabia and the Emirates before the end of the year, keeping in mind our goal of reaching six or seven countries within the next five years," said Ezzat.