Latest news with #LoraxCapitalPartners
Zawya
27-05-2025
- Business
- Zawya
MDP secures new Investment led by Lorax Capital and leading investors
Cairo, Egypt – MDP, a leading payments technology infrastructure group in the Middle East and Africa, is pleased to announce a new phase of growth following a strategic investment led by Lorax Capital Partners ('LCP'). The transaction marks the exit of long-time partner AfricInvest, whose support has been instrumental to the group's expansion in recent years. MDP delivers a fully integrated, one-stop-shop payments technology infrastructure ecosystem from card issuing, processing to cloud-native digital solutions through industry-leading developer platforms and embedded fintech capabilities to over 200 banks and 60 fintechs across Africa and the Middle East. To date, MDP has processed over 1 billion transactions and issued over 350 million cards and continues to support the region's financial inclusion and digital transformation efforts. The new investment, led by LCP, is backed by a consortium of global development financial institutions, including the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), a member of the World Bank Group, and Proparco, subsidiary of the French AFD Group, focused on private sector development. Their involvement underscores a shared commitment to advancing financial infrastructure and digital innovation across the region. 'This investment marks a pivotal milestone in MDP's journey,' said Ahmed Nafie, Co-founder and CEO of MDP. 'We are proud of the robust platform and trusted reputation we've built across 40+ countries. With the backing of Lorax and a distinguished group of global institutional investors, we are well-positioned to accelerate our expansion, deepen our processing capabilities, and further scale our operations across Africa, the Middle East, and beyond. We also extend our sincere thanks to AfricInvest for their instrumental role in supporting our strategic growth and regional leadership.' This transaction marks the successful exit of AfricInvest, a leading pan-African private equity firm that has been a valuable partner in MDP's journey. Leveraging its extensive regional platform spanning 38 African countries, AfricInvest provided MDP with strategic guidance, operational support, and access to a network of key stakeholders in the financial services and fintech sectors. Throughout its investment, AfricInvest has driven operational enhancements, strategic partnerships, and value creation initiatives that have positioned MDP as a cornerstone in the region's fintech landscape. 'We believed in MDP's ability to pivot into payment processing and played a key role in transforming the company from a pure industrial player to a technology-driven leader. Today, MDP stands as a vital partner in Egypt's fintech and banking ecosystem, actively contributing to the country's financial inclusion strategy,' said Ismail Talbi, Senior Partner at AfricInvest. Skander Oueslati, Chief Investment Officer at AfricInvest, added, 'Our commitment to fostering regional connectivity and supporting portfolio companies in their pan-African expansion was a driving force in our partnership with MDP. We opened doors in sub-Saharan Africa, helping MDP to establish local partnerships and presence, paving the way for further growth'. Commenting on the partnership between MDP and the consortium, Mohamed Sadek, Managing Partner at LCP added 'We are excited to be backing MDP's founders in realizing their strategic vision of becoming the partner of choice for financial institutions across the region. We are confident that LCP and its highly experienced co-investors will play an important role during MDP's next phase of growth which will focus on further investments in technology, expanded product offering and geographic expansion.' About MDP: MDP is a leading card-issuing & digital processing platform. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings – from personalized card production to financial transaction processing and digital payment solutions. MDP empowers over 200 banks and 60 fintechs, supporting their growth with robust, scalable, and secure technology. With more than 30 years of market presence, MDP is acknowledged for accelerating payment experiences through a tech-driven approach. The company embraces the global adoption of innovative fintech solutions that provide seamless omni-channel customer experiences. Headquartered in Cairo, Egypt, MDP has an extended footprint in more than 40 countries globally. For further information on MDP, reach out to: Contactus@ About AfricInvest AfricInvest is a leading pan-African investment platform active in multiple alternative asset classes including private equity, venture capital, private credit, blended finance, and listed equities. Over the past thirty years, we have raised USD 2.3 billion to finance more than 230 companies at various development stages, delivering value and impact for our investors, portfolio companies, and the communities we serve. Our 100-strong team of investment experts in more than ten offices across three continents has a proven track record of providing attractive risk-adjusted returns while spurring productivity growth, creating jobs, and ultimately improving African lives through inclusive and sustainable development. For further information on AfricInvest, contact About Lorax Capital Partners Lorax Capital Partners ('LCP') is an Egypt-based private equity firm with a strong track record in growth investments and a team that has executed transactions worth over USD 46 billion. LCP brings deep expertise in the financial services sector in the Middle East and Africa, and partners with founders with long-term strategic vision and exceptional operational capabilities. For further information on LCP, contact info@
Arabian Business
08-04-2025
- Business
- Arabian Business
Egyptian q-commerce leader Rabbit expands into Saudi Arabia, targets 20mn deliveries by 2026
Rabbit, an Egypt-based hyperlocal e-commerce company, announced its market entry to Saudi Arabia. The company said it aims to achieve a target of delivering 20 million items in major Saudi cities by 2026. The company, which has established its regional headquarters in Riyadh, said its operations are up and running through a network of 'dark stores' – fulfillment centers – across key neighborhoods in the city. Ahmad Yousry, Co-Founder and CEO of Rabbit, said the company is delighted to bring its bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households. 'We're building Rabbit Saudi, for Saudis, by Saudi hands,' he said. Rabbit said it stocks up top household staples, and doubles down on local customer favourites. 'Typically, over 60 per cent of suppliers are local, and the company's strategy will see KSA heroes empowered in the countrywide roll-out,' it said. Rabbit said it is also delighted to have recently added blue-chip investors such as Lorax Capital Partners, Global Ventures, Raed Ventures and Beltone Venture Capital to their existing investors, namely Global Founders Capital, Goodwater Capital, Hub71, Simple Capital and Foundation Ventures. The company said it has built a loyal customer base by combining AI-powered recommendations with the convenience of rapid delivery.
Wamda
07-04-2025
- Business
- Wamda
Rabbit enters Saudi market, backed by major regional investors
Egypt-born quick commerce (q-commerce) startup Rabbit has extended its services to the Saudi market by establishing a regional HQ in Riyadh. Founded in 2021 by Ahmed Yousry, Walid Shabana, Ismail Hafezz, and Tarek El Geresy, Rabbit is a tech-driven hyperlocal e-commerce company that delivers groceries and more in as quick as 20 minutes through its network of dark stores. Rabbit declared it has been backed by some regional investors, including Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, along with the existing investors, namely Global Founders Capital, Goodwater Capital, Hub71, Simple Capital, and Foundation Ventures. Press release: Rabbit, the leading tech-driven, hyperlocal e-commerce company, announces its market entry to Saudi Arabia — and a target of delivering 20 million items in all KSA's major cities by 2026. Rabbit is already live in KSA. The Company has established its regional headquarters in Riyadh, home to a rapidly expanding Saudi team, and has successfully launched its operations through a network of 'dark stores', or fulfilment centres, strategically located across key neighbourhoods in the city. Having secured its commercial licence from KSA's Ministry of Investment in 2022, the Company's regional HQ and investment in local talent follow a carefully planned, pragmatic strategy for GCC expansion with Saudi Arabia as the immediate priority. KSA is an ideal market to benefit from Rabbit's competitive advantages of speed, convenience, and reliability. Current online grocery transactions in KSA are at a lower rate (1.3%) than those in the UAE (5.3%) and the US (4.8%), creating clear growth potential. KSA's overall food and grocery market is $60 billion, and a rise to even 4% online penetration yields a >$2 billion e-grocery market. The Company's vision also aligns closely with objectives of the Kingdom's Vision 2030 plan, such as developing the retail sector; increasing SMEs' economic contributions; attracting foreign investment; and developing the digital economy. By combining AI-powered recommendations with the convenience of rapid delivery, Rabbit has built a loyal customer base. The company's business model of delivering groceries, food, cosmetics, and more in just 20 minutes hinges on achieving high levels of operational efficiency—a key challenge in the e-grocery industry. Quick commerce remains a complex operational challenge worldwide, with success dependent on balancing logistics, customer satisfaction, and sustainable unit economics—an equation Rabbit continues to refine. The market entry into Saudi Arabia follows consistent, profitable growth in the Company's original market – Egypt. Over three and a half years of live operations, 1.4 million customers have used Rabbit's app to have over 40 million items delivered (in 20 minutes or less) – with 8.5x revenue growth in the last two years. Ahmad Yousry, Co-Founder and CEO of Rabbit, commented: 'We are delighted to announce Rabbit's expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households and delivering the best products – especially local favourites – in just 20 minutes. We're building Rabbit Saudi for Saudis by Saudi hands.' Rabbit is a 'house of brands', stocking up top household staples and doubling down on local customer favourites. Typically, over 60% of suppliers are local, and the Company's strategy will see KSA heroes empowered in the countrywide roll-out. Rabbit's focus on customer experience and strong unit economics enables sustainable growth that is not dependent on excessive marketing and discounts. Its success is made possible through its robust technical backbone: streamlined warehousing—a fully digitised supply chain procuring the right items in the right quantities; a user-friendly app interface—an attractive showcasing of available inventory; and hyper-efficient logistics— moving from point A to point B in the fastest, most cost-effective manner. Everything from "picking" (in the warehouse) to "final handoff" (to the customer) is measured in seconds. Rabbit is also delighted to have recently added blue-chip investors, such as Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, to their existing investors, namely Global Founders Capital, Goodwater Capital, Hub71, Simple Capital, and Foundation Ventures.
