ExpandCart secures $2.7 million in a Pre-Series B  funding round

ExpandCart secures $2.7 million in a Pre-Series B funding round

ExpandCart, the leading e-commerce platform in the Middle East and North Africa, has secured $2.7 million in a Pre-Series B bridge round of financing, led by Hong-Kong based Betatron Venture Group with participation from existing investors; Sawari Ventures from Egypt, and Agility Ventures from Kuwait. Founded in 2016, ExpandCart is one of the largest e-commerce platform builders in the MENA region with customers from over 40 countries and a client base of 25,000 merchants who managed to achieve over $850 million in GMV through the ExpandCart platform from its current main markets, including Saudi Arabia, Egypt, Kuwait, and the UAE.

The new round of funding is set to fuel ExpandCart growth in current markets while focusing on maximising R&D, technology building, and new products to ambitiously enable 1 million merchants within the next three years across the Mena region using multiple products such as their new conversational commerce chatbot solution ExpandBot, which enables merchants to interact with their customers faster through conversation-based commerce tools like (Messenger and WhatsApp) without increasing their headcount.

ExpandCart is currently preparing to kick start its new financing round, which will be dedicated to new market expansion, and developing a comprehensive ecosystem of commerce products and solutions that will help the company acquire new segments of merchants with business needs that go beyond just a traditional online store.

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