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South African e-commerce logistics company Pargo has secured US$4 million. The company has already opened more than 500 tech-enabled "Pargo Points" in Egypt. To far, it has linked more than 10 million online shoppers with top brands like Amazon, Bash, and Jumia.In order to finance its growth into Egypt, the South African e-commerce logistics company Pargo has secured US$4 million. The company has already opened more than 500 tech-enabled “Pargo Points” in Egypt. Pargo, a clever logistics firm founded in 2015 in Cape Town by Lars Veul and Derk Hoekert, provides e-commerce delivery solutions via a network of more than 4,500 tech-enabled Pargo Points. To far, it has linked more than 10 million online shoppers with top brands like Amazon, Bash, and Jumia.
The business will utilise the US$4 million it has raised in a capital round headed by 3Capital Ventures (formerly Allan Grey), Endeavour, SAAD Investment Holdings, and UW Ventures to expand its network and improve its services. Most immediately, it provides funding for Pargo’s entry into Egypt through the introduction of its Collect and Return services, which are currently offered at more than 500 Pargo Points, such as Fawry, Circle-K, and Basata stores. One of the first significant e-commerce businesses to employ Pargo’s services in Egypt was Noon, the top fashion and leisure platform in the Middle East.
Veul, CEO of Pargo, stated, “We are excited to bring our Collect and Returns services here as Egypt is one of the most exciting e-commerce markets in Africa.” Our goal is straightforward: develop a cost-effective e-commerce delivery system to expand access to the 500 million African online buyers who e-commerce businesses presently find difficult to reach. The Egyptian market has enormous potential, and this expansion is a significant step in creating the region’s largest smart logistics network.
In 2023, Pargo started a pilot program in Egypt, setting up 150 Pargo Points to test the solution by making it available to a select group of e-commerce businesses and their online customers. The program’s uptake was greater than anticipated. Additionally, it unveiled a brand-new “Cash on Collection” payment option designed specifically for Egypt’s primarily cash-based economy.
By 2026, Pargo hopes to have 7,000 Pickup Points throughout the area, all the while maintaining its partnerships with top local companies and brands. “Our goal is to give more Egyptian customers access to our Collect and Returns solution so they may have an unparalleled shopping experience. We are well-positioned to take advantage of this market’s enormous potential thanks to partners like Noon and a robust pipeline of interested businesses,” stated Abdelmalek Shamsi, managing director of Pargo in Egypt.
