Egyptian logistics firm – Bosta has declared the launch of its foremost office in Riyadh as a faction of its extension strategies throughout the Middle East.
Bosta in Saudi Arabia
Mohamed Ezzat, Co-founder and CEO of Bosta, was pleased to unveil the firm’s office in Riyadh. The firm believed that this step would allow it to extend its activities in a significant market prominently. Mr. Ezzat stated that the firm’s office in Saudi Arabia is a fraction of Bosta’s expansion strategies across the Middle East in 2022, which another launch will succeed in the territory by the end of 2022. The firm’s office in Riyadh is Bosta’s foremost venture within the Arab environment, continuing the firm’s success that began in Egypt in 2017. The CEO indicated that the firm managed to produce 10 million shipments since its introduction within the market.
The new-fangled expansion arrives parallelly with Bosta’s achievement in a new-fangled investment round via local and global investors led by Khwarizmi Ventures, alongside other prevailing investors, including Hassan Allam Holding.
Chief Growth Officer at Bosta, Omar Yaghmour, stated that Saudi Arabia highlighted the primary step of the firm’s expansion strategy to emerge as a global player. Yaghmour noted that the firm’s goal was to scale itself to become one of the pioneering players within the territory.
The firm has also declared the appointment of Imad Fares as the Managing Director of its Riyadh division. With over two decades of experience within the Gulf territory, Fares has delivered as the general manager of Fetchr in Saudi for almost half a decade.
Abdulaziz Al-Turki, the Managing Partner at Khwarizmi Ventures, stated that owing to the closeness to players within the eCommerce domain, the firm witnesses the challenges and potential within the delivery and logistics industry that Bosta’s technology-first mindset can tackle. Furthermore, being a focal area with a colossal economy and surging eCommerce activity, the Saudi logistics and freight market’s appeal is receiving humongous attention from investors and start-ups alike, Al-Turki stated. He elucidated that after the firm’s significant success since its inception in Egypt, the team was excited to witness and support its enhanced growth as it kicked off its operations within the Kingdom of Saudi Arabia.
Established in 2017, the overnight delivery facilitator for eCommerce firms targets to dominate the logistics industry by bringing technology and its half a decade of expertise to deliver a one-stop-shop for logistics solutions.