ExpandCart, an E-commerce and retail platform in the Middle East, announced that it has raised $2.5 million in a Series A round. The round was led by Sawari Ventures with the participation of Agility Ventures, Graphene Ventures, and two angel investors.
With over 20,000 merchants in over 40 countries, ExpandCart provides comprehensive E-commerce solutions. It enable merchants and retailers to build their online stores and expand their sales. ExpandCart’s omnichannel selling solution includes a feature-rich and customizable platform for building online storefronts, an integrated cloud point-of-sale system for retailers, and a connected branded merchant mobile app.
The investment comes as part of the company’s strategic plan to focus on digital commerce solutions. These will target online and offline retailers and reduce the gap between suppliers and merchants in the Middle East.
Amr Shawqy, CEO & Co-Founder of ExpandCart said, “At ExpandCart, we believe that technology can empower commerce, with that vision in mind, over the past couple of years, we have built solutions to help merchants expand their sales online and offline. This new round of funding will help us implement our ambitious roadmap of new innovative E-commerce solutions that will supercharge E-commerce growth in the Middle East.”
ExpandCart has successfully expanded its operations across the GCC, Egypt, and North Africa, doubling numbers every year. Additionally, the company developed partnerships and relationships strategic to its growth. It has partnerships with giants such as Facebook, Google, PayPal, DHL and others.
During the pandemic, the ExpandCart team had the opportunity to support thousands of merchants to continue their business online. The demand for their solutions and services during that period was unprecedented. It allowed the company to get inspired by the dynamic merchants’ needs to develop an innovative digital commerce solutions roadmap.
“Since our previous funding round in 2019 with ExpandCart, we have been working with them as a strategic partner in the region, their amazing highly-integrated product along with their impressive growth proves they are the only platform positioned to lead the Middle Eastern market. This is why we were eager to join this round with a follow-on funding,” said Fahad Al Shatti, Vice President of Agility Ventures.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.