Egyptian fintech startup Octane, a digital platform focused on fleet and on-road expense management, has secured $5.2 million in funding to fuel its expansion across Egypt and the wider Middle East and North Africa (MENA) region.
Octane: Simplifying Fleet Payments in Egypt
Founded in 2022, Octane offers a closed-loop digital wallet tailored for fleets. The platform streamlines payments for essential operational expenses such as:
- Fuel
- Maintenance
- Petty cash
- Consumables
These features are supported by real-time spend controls, analytics, and AI-driven fraud detection, enabling fleet managers to reduce waste, ensure compliance, and optimize operations.
📊 Currently, Octane operates Egypt’s largest fleet-payment acceptance network, serving over 1,600 corporate clients.
New Funding to Scale Operations and Deepen Technology
The $5.2 million funding round was led by:
This investment will allow Octane to:
- Expand its acceptance network across Egypt and MENA
- Enhance AI-powered features like fraud detection and route optimization
- Invest further in mobility tech innovation
🗣️ “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. “This funding helps us stay ahead of the curve without adding complexity for our customers.”
Why Investors Are Betting on Octane
Laila Hassan, General Partner at Algebra Ventures, highlighted the scale of inefficiencies in Egypt’s fleet management sector as a key motivator:
“In a market where billions leak through inefficiencies and fraud, Octane brings real accountability. Their solution goes beyond fuel—laying the infrastructure for B2B transactions in Egypt’s logistics and mobility space,” she said.
