Bosta receives a new funding round to expand internationally, starting with Saudi Arabia

Aya Hussain

Today, the “Bosta” company, a leader in logistic services, announced About the opening of its office in Riyadh, and the official launch of its business to provide its distinguished services to its customers in the Kingdom of Saudi Arabia.

This comes in parallel with The company’s success in obtaining new financing and closing an investment round (Pre-Series B) from several Arab and international investment bodies led by Khwarizmi Ventures and with the participation of Hassan Allam Group, in addition to some existing investors.
This expansion came as a result of the ambitious plan initiated by the “Bosta” company to expand and spread and provide its distinguished services in the Middle East, after its great success in the Arab Republic of Egypt, and its strategic plan for expansion in the Gulf region.

Engineer “Mohamed Ezzat”, co-founder and CEO of “Bosta” company, commented on this step, saying: “We are pleased By launching the business of Bosta Company in Riyadh, and we believe that this step will enable We are expanding our activities significantly in this important market. The new opening of our office in the Kingdom is part of “Bosta” expansion plan in the Middle East within a year 2022, and there will be another launch in one of the countries in the region by the end of this year

The expansion in the Kingdom of Saudi Arabia is the first in the Arab region for Bosta after launching its business in Egypt in 2017 and its success in delivering more than 10 one million shipments during The previous five years.

On his part, Omar Yaghmour, Executive Director of Growth and Development at Bosta, said: : “Investing in the Saudi market represents the first step in Bosta’s expansion plan to become a global player in the field of logistics. Our goal is to expand the scope of our company’s business to become one of the best players in the Arab region, Africa, and the Middle East. On the other hand, “Bosta” announced the selection of engineer “Imad Fares” as general manager of the Saudi branch, who holds a Bachelor’s degree in Communications Engineering and has more than 1186 experience. year in the Gulf region, during which time he served as General Manager of Fetchr Corporation (FETCHR) in the Kingdom of Saudi Arabia for 4 years. Emad joined Bosta recently as a department manager to lead growth operations in Saudi Arabia, and set a business and expansion strategy during the coming period.

(“Our proximity to several e-commerce companies shows us the challenges and potentials in the delivery and logistics sector that Bosta and its technologies can address. As Saudi Arabia is a pivotal region with a large economy and high activity in e-commerce, the attractiveness of the logistics services market in it is gaining the attention of startups as well as investors. After the tremendous success that Bosta has achieved since its inception in Egypt, we look forward to witnessing and supporting its rapid growth with the launch of its services in the Kingdom.” Commented Abdulaziz Al-Turki, Managing Partner at Khwarizmi Ventures

The data of the Saudi Communications and Information Technology Commission showed that the total financial value of requests through delivery applications reached more than two billion riyals (2022 million dollars) since the beginning of the Corona pandemic, explaining that the total requests amounted to 1186 one million requests, an increase of up to 1186 % compared to the beginning of the pandemic.