Egyptian fintech startup Octane raised $5.2 million in a funding round led by SC Holding to fuel its regional expansion plans across the Middle East and North Africa (MENA) region.
Why it matters: Octane’s digital platform consolidates fleet-related expenses into a single closed-loop digital wallet, providing real-time controls and analytics that help fleet operators trim avoidable fuel and mileage costs by double-digit percentages.
The details:
- Octane, co-founded by Amr Gamal and Ziad Eladawy in 2022, already operates Egypt’s largest fleet-payment acceptance network and serves more than 1,600 corporate clients.
- The new funding will help Octane expand its regional footprint, acceptance network, and AI capabilities, including fraud detection and route optimization.
- Octane’s platform enables payments for fuel, maintenance, petty cash, and consumables, complemented by spend controls and analytics that reduce waste and improve compliance.
What they’re saying:
- “At Octane, we’re focused on giving fleets the rails they need to manage day-to-day payments with precision,” said Amr Gamal, co-founder and CEO of Octane.
- “In a market where billions leak through inefficiencies and fraud, Octane brings real accountability and control to fleet operators. Their vision extends far beyond fuel, laying the rails for B2B transactions across Egypt’s logistics and mobility sectors,” said Laila Hassan, general partner at Algebra Ventures.
The big picture: Octane’s funding round underscores the vibrant and dynamic nature of the fintech and tech startup ecosystem in the MENA region, with companies innovating across a range of sectors from payments and AI to HR tech and proptech.
What’s next: With its focus on providing better visibility and control over fleet expenses, Octane is positioning itself as a key player in MENA’s enterprise mobility space, supporting a wide range of energy needs while helping companies cut down on fuel and mileage-related losses.
