The Clap Logistics startup Mylerz raised $9.6 million in equity.
Who are the investors? Funding was injected by Egyptian private equity firm Lorax Capital, in addition to Fawry.
More on Mylerz Established in 2019, Mylerz works in the field of logistics, particularly in the “last-mile delivery” service. Mylerz has successfully accessed 21 delivery centers of its own, and since its inception, has successfully delivered 2 million orders to its customers.
Claps info Last-mile delivery is the final stage in the process of delivering a product from its production site to the final buyer.
How will the funds be used? Mylerz will use the funding to expand, as the company plans to enter the Moroccan, Tunisian and Algerian markets within three months. It is also looking to penetrate the Sudanese and Libyan market, & Fawry will handle the e-payment process for the logistics services provided by Mylerz.