Fetchr is a Dubai-based logistics startup that provides delivery and shipping services. The company was on the verge of bankruptcy and raised an emergency $10 million late last year to avoid collapse. Bloomberg documents show Fetchr has secured $15 million in fresh funding with commitments from early investor Beco Capital, Saudi-based Tamer Group, and French shipping firm CMA CGM, subject to shareholder approval. Management changes this year include the quiet appointment of former UPS executive Hussein Wehbe as CEO; interim CEO Mazen Mamlouk confirmed the round and is expected to hand control to Wehbe while staying on as an adviser. Since the emergency funding, Fetchr has cut about 1,230 jobs and exited Jordan, Bahrain, and Oman, and the new management has reduced the company’s burn rate. Fetchr builds patented mobile technology that captures customers' geo-location on their phones and uses it as a delivery address to solve the “no address” problem in emerging markets. The company operates an app-based delivery service and in August 2016 launched an on-demand offering called “NOW” for door-to-door deliveries within an hour. Fetchr is operational in the UAE, Saudi Arabia, Egypt and Bahrain and partners with governmental organizations such as Oman Post to extend its technology through strategic partnerships. The business emphasizes mobile-first markets where the article notes more than 80% smartphone penetration among users, and it highlights gender‑diversity initiatives including women couriers in Dubai and an all‑women call center team in Saudi Arabia. Fetchr plans to continue expanding its footprint across MENA and beyond while developing its proprietary delivery technology. Fetchr is a Dubai-based provider of a package delivery app that uses the phone as a physical address to eliminate the need for formal addresses. Its app allows drivers to arrive at a customer’s exact location via the phone, pick up packages, and deliver them to recipients. The company targets markets across the Middle East, North Africa, Sub-Saharan Africa, Asia, India, Indonesia and other emerging markets. Fetchr was co-founded by CEO Idriss Alrifai and Joy Ajlouny. It closed an $11M Series A financing to fund its next steps. The company plans to use the proceeds to launch its mobile application on the App Store and Google Play and to accelerate product development.

Total raised

$67M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2020