Khwarizmi Ventures partially exits Bosta with nearly 3x return
Saudi VC Khwarizmi Ventures has partially exited Egyptian logistics startup Bosta, netting nearly 3x on its position and marking its sixth portfolio exit.
Saudi venture capital firm Khwarizmi Ventures has partially exited its investment in Egyptian logistics startup Bosta, realising a net multiple of nearly 3x on its total position. The transaction marks Khwarizmi’s sixth portfolio exit, following Tamara, POSRocket, Fatura, Melltoo and Qawafel. The buyer, transaction value, stake sold, and Khwarizmi’s remaining holding in Bosta were not disclosed.
Technology-enabled last-mile delivery
Founded in 2017 by Mohamed Ezzat, Bosta provides technology-enabled logistics and last-mile delivery services to businesses across multiple markets. The company was built to solve reliability and scalability challenges facing e-commerce in the region, and has since evolved into a platform supporting thousands of businesses.
Khwarizmi backed Bosta three times, starting with its Series A and later leading one of the company’s follow-on rounds. The firm has returned capital to its Fund I investors twice in less than five years since the fund’s launch.
”We’re incredibly proud of Bosta team and grateful to be part of their journey. This achievement reflects the founders’ vision, relentless execution, and the strength of innovation emerging from the MENA startup ecosystem,” said Abdulaziz AlTurki, Managing Partner at Khwarizmi Ventures.
”Bosta was founded to solve one of the biggest challenges facing e-commerce in our region: reliable, scalable last-mile delivery. Over the years, we’ve evolved into a platform that supports thousands of businesses and enables commerce across multiple markets,” said Mohamed Ezzat, Founder & CEO at Bosta.
