Egyptian Logistics Startup Octane Raises $5.2M to Transform Fleet Payments Across MENA
Egyptian startup Octane, a digital platform for fleet and on-road expense management, has secured US$5.2 million in funding to accelerate expansion of its acceptance network, deepen its technology capabilities, and support growth across Egypt and the wider MENA region.
Read the full article on Disrupt Africa →Company Overview
Founded in 2022, Octane operates as a Cairo-based fintech offering a closed-loop digital wallet designed for fleet operations. The platform facilitates payments for fuel, maintenance, petty cash, and consumables while providing spend controls and analytics to reduce inefficiencies and enhance compliance.
Current Position & Growth Plans
Octane currently operates Egypt's largest fleet-payment acceptance network and serves over 1,600 corporate clients. The new funding round, led by Shorooq, Algebra Ventures, and SC Holding, will enable expansion across the broader MENA region.
Leadership Perspective
Co-founder and CEO Amr Gamal stated: "This funding lets us broaden our acceptance network, expand AI-powered fraud-detection and route-optimization features" while maintaining simplicity for customers.
Investor Confidence
Algebra Ventures' Laila Hassan highlighted that "billions leak through inefficiencies and fraud," noting Octane delivers accountability to fleet operators while establishing foundations for broader B2B transaction capabilities within Egypt's logistics sector.