Egyptian logistics company Bosta has announced the opening of its first office in Riyadh, as part of its expansion plans across the Middle East.
“We are pleased to launch Bosta in Riyadh. We believe that this step will enable us to significantly expand our activities in a market that’s very important to us. The launch of our office in Saudi Arabia is part of Bosta’s expansion plans across the Middle East this year, which will be followed by another launch in the region by the end of this year,” said Mohamed Ezzat, co-founder and CEO of Bosta. “Our office in Riyadh is Bosta’s first venture in the Arab region, continuing our success that started in Egypt in 2017 that managed to deliver 10 million shipments since our introduction in the market,” he added.
The new expansion comes in parallel with Bosta’s success in raising a new investment round (pre-Series B) through regional and international investors led by Khwarizmi Ventures, along with other current investors, in addition to Hassan Allam Holding.
Omar Yaghmour, chief growth officer at Bosta, said: “Saudi Arabia marks the first step of Bosta’s expansion to become a global player; our goal is to scale Bosta to become one of the top players in the region.”
Bosta has also announced the appointment of Imad Fares as the managing director of its Riyadh branch. With more than 20 years of experience in the Gulf region, Fares has also served as the general manager of Fetchr in Saudi Arabia for four years.
“Given our closeness to players in the e-commerce space, we see the challenges and potential in the delivery and logistics sector that Bosta’s tech-first mindset can tackle. Being a focal area with a large economy and high e-commerce activity, the Saudi freight and logistics market’s attractiveness is gaining the attention of startups and investors. After its immense success since inception in Egypt, we are excited to witness and support Bosta’s accelerated growth as it kicks off its operations in the Kingdom,” said Abdulaziz Al-Turki, managing partner at Khwarizmi Ventures.
Launched in 2017, the overnight delivery provider for e-commerce companies aims to disrupt the logistics industry by bringing together technology and experience to provide a one-stop-shop for delivery solutions.
