South African E-Commerce Logistics Startup Pargo Expands to Egypt
Pargo has raised $4 million to expand into Egypt, launching over 500 tech-enabled locations for e-commerce delivery.
South African logistics company Pargo has raised $4 million in funding to expand into Egypt, where it plans to launch over 500 tech-enabled locations, known as ‘Pargo Points’, for delivery and pick-up.
Founded in 2015 in Cape Town by Lars Veul and Derk Hoekert, Pargo provides e-commerce delivery solutions through a network of more than 4,500 Pargo Points, connecting companies like Amazon and Jumia with over 10 million online shoppers.
The funding round was led by 3Capital Ventures, along with contributions from Endeavor, SAAD Investment Holdings, and UW Ventures. This capital will help enhance Pargo's services and scale its network as it launches its Collect and Return services in Egypt. The new service is available at key retail partners, including Fawry and Circle-K, with Noon, a major fashion and lifestyle platform, among the first to utilize Pargo’s offerings.
Looking ahead, Pargo plans to establish 7,000 Pickup Points across the region by 2026 and continue collaborating with local businesses.
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