Bosta, a leading logistics firm, has announced the establishment of its first office in Riyadh, officially launching its operations in the Kingdom of Saudi Arabia and providing its outstanding services to its customers. This action is consistent with the country’s Vision 2030 plans, which aim to strengthen the local economy through a variety of strategic programs targeted at business owners and entrepreneurs.
Additionally, the development is part of Bosta’s strategy to expand and offer its services throughout the Middle East following a highly successful launch in Egypt. The new growth follows Bosta’s tremendous success in raising a new investment round (Pre-Series B) from regional and international investors led by Khwarizmi Ventures, as well as existing investors like Hassan Allam Holding.
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“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 KSA 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 Eng. 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.
Additionally, Bosta announced the hiring of Eng. Imad Fares as the branch’s Managing Director in Riyadh. Fares has almost two decades of experience in the Gulf area, including four years as the General Manager of FETCHR in Saudi Arabia. He joined Bosta as Managing Director for the KSA Office, where he would oversee growing operations and develop the company’s business and expansion strategy.
“KSA 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,” said Chief Growth Officer at Bosta, Omar Yaghmour, said.
Why The Investors Invested
“Given our closeness to players in the e-commerce space, we see the challenges and potential in the Delivery & 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 & 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.
According to a recent report by the Saudi Communications and Information Technology Commission, the total financial value of requests made via delivery applications has exceeded two billion riyals (USD $533 million) since the start of the COVID-19 pandemic, with 26 million total requests, a 250 percent increase over pre-pandemic levels.
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A Look At What Bosta Does
The Egyptian startup, which was established in 2017 by Mohamed Ezzat and Ahmed Gaber, provides last-mile delivery services to online businesses in Egypt. About 3,000 companies use its services to distribute goods all over Egypt. In a statement, Bosta stated that its guaranteed next-day delivery service is available throughout the world. According to the startup, it has currently delivered over 10 million shipments.
Bosta relies on a network of independent drivers who are compensated for each order delivered successfully. This fleet handles the first and last mile, while leased vans handle the middle mile (for inter-city couriers).
Bosta Logistics Saudi Arabia Bosta Logistics Saudi Arabia
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer