Freight forwarding platform Nowlun secures $1.7 million in seed funding from investors in Egypt
Alexandria-based digital freight forwarding platform Nowlun has raised $1.7 million in a seed funding round. The investment, led by Nama Ventures and A15, also includes participation from Sanabil, 500 Global, and angel investors.
Nowlun, founded in 2021 by Moataz Khamis, Mahmoud Khaled, and Ahmed Emara, aims to revolutionize the freight forwarding industry. The platform is impressing investors with its deep domain expertise, strong traction in the Saudi market, and clear vision for disrupting the logistics space.
Bassem Raafat, Principal at A15, expressed excitement about partnering with Nowlun. He praised the company's unique combination of deep domain expertise and cutting-edge technology, positioning it for transformative impact. Mohammed Alzubi, founder and managing partner of Nama Ventures, echoed these sentiments, expressing his admiration for Nowlun's plans to drive efficiency, transparency, and innovation across the supply chain ecosystem.
Nowlun's digital platform streamlines the entire shipping process, from price comparison to customs clearance and inland trucking. It allows customers to compare rates from over 30 shipping lines in real-time and offers services all over the region from its offices in Egypt and Saudi Arabia.
The funding will be used to accelerate expansion plans and further develop the platform's technology. Nowlun plans to strengthen its presence in key markets, notably Egypt and Saudi Arabia, and position itself to facilitate the future of regional trade. The company is committed to transforming the industry using cutting-edge technology, as stated by Moataz Khamis, CEO and co-founder of Nowlun.
Nowlun also integrates with major shipping lines to offer real-time pricing and shipping management features, including shipment tracking. This integration is expected to improve operational capabilities and better serve trade logistics needs in the growing markets of the Middle East and North Africa region.
In summary, Nowlun’s growth strategy post-funding focuses on geographic expansion across the Middle East and North Africa region and enhancing its digital freight platform to better serve trade logistics needs in these growing markets. The company is well-positioned to disrupt the logistics industry and facilitate the future of regional trade.
Technology will be utilized to further develop Nowlun's digital platform, and this advancement in technology aims to drive efficiency and innovation across the supply chain business. The funding, collected from investors such as Nama Ventures, A15, Sanabil, 500 Global, and angel investors, will be allocated to accelerate expansion plans in key markets, including Egypt and Saudi Arabia, positioning Nowlun as a leader in the finance and logistics sector of the Middle East.
