Egypt's Octane Raises $5.2m to Scale Its Fleet Payments Platform Across MENA
The round was led by Shorooq Partners, Algebra Ventures and SC Holding, funding regional expansion, acceptance network and AI capabilities such as fraud detection.
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Octane, a Cairo-based fintech, raised $5.2 million in a round led by Shorooq Partners, Algebra Ventures and SC Holding. Founded in 2022 by Amr Gamal and Ziad Eladawy, Octane consolidates fleet expenses, including fuel, maintenance and petty cash, into a single closed-loop wallet.
The company said the funding will expand its regional footprint and acceptance network and build out AI capabilities including fraud detection and route optimization, as fleet-payments digitization accelerates across MENA.