Y Combinator-backed startup ShipBlu has raised $2.4 million in a seed round led by Nama Ventures, according to TechCrunch.
ShipBlu business model🤷♀️ ShipBlu operates a delivery & fulfillment model. The company delivers all kinds of packages for its retailers & merchants, & charges customers per package, depending on standardized sizes, destination, & shipping speed.
As for the fulfillment side, ShipBlu stores merchants’ products in warehouses it leases, & connects with merchants’ online stores, monitoring orders through a dashboard. When orders come in, ShipBlu packs the orders from the warehouse & delivers them to the customers.
Why is this important🤔 The company plans to use the funds to grow its investment & service offering across Egypt, as ShipBlu CEO Ali Nasser hopes to expand the company’s network infrastructure to 99% of the country’s population. Notable ShipBlu competition in Egypt are companies like Flextock & Bosta.