When merchants launch their e-commerce companies, they can easily manage the finish-to-finish operations in the early stages. Nonetheless as they initiate to develop, managing their gain operations, from warehousing and logistics to produce and cash collection, can change into sophisticated. This can forestall them from scaling effectively despite having a steady influx of demand.
Now, there’s a must always offload some of this workload. This is where e-commerce fulfillment services and products approach in handy.
Today, Flextock, one such company providing this provider to companies and customers in Egypt, is announcing that it is part of Y Combinator’s Winter 2021 batch. Based by Mohamed Mossaad and Enas Siam in September 2020, the Egyptian company launched in stealth this January.
According to COO Siam, the founders observed that as e-commerce activities in the Middle East and North African regions accelerated as a consequence of the pandemic, merchants were left overwhelmed with the volume of orders they bought.
“We saw it as an alternative to accomplish a tech-enabled platform to be able to assist anyone that wanted to develop their gain impartial brand or retailer,” she told TechCrunch. “We wanted them to focal point on their products and marketing while leaving the offer chain and logistics bit to us, which we carry out thru our finish-to-finish proprietary software.”
Mossaad, the company’s CEO, describes Flextock as a tech-enabled fulfillment provider. When merchants take a look at in to the platform, they send their products to at least one in all the company’s fulfillment centers. Flextock takes the total catalog and tags the products for tracking applications. Then, integration is made between Flextock and any online retailer they expend, be it Shopify, WooCommerce, Wix and Odoo, among others.
As orders are made, Flextock packages and ships the products from the fulfillment center to the customers. Flextock doesn’t gain any offer autos, so to achieve this, the company partners with existing logistics companies in Egypt. This mannequin has helped the startup to create a marketplace for varied last-mile offer companies in the country.
There’s also a dashboard for these merchants to track each narrate, accept extra visibility into their transport path of and understand how properly their products promote.
Flextock makes money on a per-narrate basis. That means the merchants on the platform pay a flat charge that changes with respect to the volume of products moved.
Mossaad says that since the company beta launched in January with extra than 20 companies, it has been rising 50% week-on-week across 28 cities in the country.
According to the CEO, Flextock is the first finish-to-finish fulfillment provider in Egypt. And in a market that will seemingly gaze extra competition in the next couple of years, Mossaad thinks Flextock has the alternative to change into the market leader.
At the back of this rationale is that the six-month-weak startup is backed by Y Combinator and has also raised $850,000 which is correct the first part of its multi-million-dollar pre-seed round that will terminate someday this year.
“We were able to very fast accept the acceptance of YC given the dimension of the alternative we are fascinated with. We mediate that commerce is anticipated to change in the Middle East and Africa, and Flextock is going to be at the forefront of powering this next generation of commerce,” he said.
The founders mix a wealth of corporate ride and a solid track narrative of scaling tech startups in the MENA station.
Siam started her career managing offer operations at Nestle across the Middle East and North Africa. Later, she became the General Manager of Careem Bus, a mass-transit provider and Uber subsidiary, where she helped accomplish the product from scratch and grew it to 150,000 monthly rides in a year.
Mossaad, on the other hand, has labored on a couple of turnarounds across varied African countries at some stage in his time at Bain & Company. He joined Egyptian online food offer platform, Elmenus, as Chief Strategy Officer. He helped scale the company’s revenues 5x in much less than a year and was instrumental to its $8 million Sequence B round.
The CEO says Flextock has its sights on other African and Middle Eastern markets — specifically Saudi Arabia — and the plan is to produce its services and products to over 1 million companies in these regions over the next decade.
“We are on a mission to enable extra than 1 million merchants in Africa and the Middle East to promote online with out carrying out the hassle of running their gain operations. We are properly-positioned to carry out that, and optimistically, we are able to be able to achieve that in a narrative time.”