EGYPT – Egyptian startup Yalla Fel Sekka (YFS), an on-demand logistics provider specializing in instant delivery and dark store management, has secured a US$7 million Series A funding round to expand its presence in Egypt and across the MENA region.
YFS provides the only reliable and affordable instant delivery service for businesses in urban communities in Egypt – the largest and fastest-growing economy in the MENA region.
It leverages its proprietary, data-driven technology to provide customers with near-instant deliveries.
The two-year-old company has already completed two million deliveries in Egypt and is active in Cairo, Giza, Alexandria, Mansoura, and Tanta.
Through its digital platform and diverse fleet of 1,000 drivers of motorcycles and vans, YFS is already pioneering the instant delivery sector for groceries, food, e-commerce consolidators, retailers, and pharmaceutical products in the country.
“We are now delivering over 10,000 orders per day while being gross margin positive only 18 months after launch in a vibrant but competitive market,” said Yasmine Abdel Karim, CEO, and co-founder of YFS.
Ms. Karim also noted that the company’s gross merchandise volume is growing at a monthly rate of 20 percent and its customer retention is more than 90 percent.
YFS is building the critical infrastructure backbone for next-generation logistics services in the region and is seeking to develop the broadest urban distributor network of dark stores and micro-warehouses in Egypt.
It will also focus on furthering its leadership in machine learning and in developing its innovative operational strategies.
Amer Al Ameri, head of venture capital and technology investments at ADQ, said supporting the YFS team and its execution capabilities represented a long-term commitment on the part of his firm to boosting impactful future-focused solutions.
In November 2019, the YFS secured US$2.5 million seed funding from US-based Flybridge Capital and I Squared Capital.
The latest funding takes the total funds raised by the Egyptian logistics startup to US$ 9.5 million.