Octane, a rising fleet payment technology startup from Egypt, has secured $5.2 million in fresh funding. The round was led by Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding, signaling strong investor confidence in the company’s mission to modernize mobility payments across the MENA region.
Founded in September 2022, Octane is tackling a major pain point in the transportation and logistics sector: fragmented and outdated payment systems for commercial fleets.
A New Chapter in Fleet Mobility
Octane’s platform simplifies how fleet operators manage all vehicle-related expenses, far beyond just fuel. By offering a closed-loop digital wallet, Octane enables companies to streamline:
- âś… Fuel Payments (Diesel, Gasoline, CNG)
- âś… Vehicle Maintenance & Repairs
- âś… Spare Parts Purchases
- âś… Petty Cash for On-Road Needs
- âś… AI-Driven Expense Tracking
Unlike traditional fleet cards that focus solely on fuel and offer limited visibility, Octane delivers real-time control and full expense management through a centralized system. This helps businesses cut operational waste, prevent fraud, and optimize routes more efficiently.
What will the funding be used for?
With this $5.2M raise, Octane plans to:
- ✅ Expand its Acceptance Network – Grow beyond the existing 2,400 fuel stations and 400 CNG stations across Egypt
- ✅ Advance Technology – Add features like AI-powered fraud detection and smart route optimization
- ✅ Scale Across MENA – Prepare for regional growth amid rising demand for sustainable fleet operations
Amr Gamal, Co-Founder and CEO of Octane, highlighted the company’s forward-looking strategy:
“This funding lets us broaden our acceptance network, expand AI-powered features, and stay ahead of the shift toward cleaner, more efficient mobility—without adding complexity for our customers.”
Bridging the Infrastructure Gap
As Tamer Azer, Partner at Shorooq, pointed out:
“The first wave of digitization moved people. The second wave moved goods. But the enterprise space lacked the infrastructure to manage payments efficiently. Octane is solving that.”
This shift is critical as more companies push toward digital transformation and decarbonization in their logistics operations. Octane positions itself as a core enabler of this transition by bringing together payment convenience, visibility, and operational intelligence.
Preparing for an Electric Future
Octane isn’t stopping at traditional fuels. The platform is piloting EV-charging payments, allowing it to future-proof fleets as the region gradually transitions to electric vehicles. This flexibility ensures that fleet managers can support diverse energy sources without having to switch systems.
What’s next for Octane?
In a region where logistics and transport power large portions of the economy, Octane is setting a new standard for how fleets manage spending. With fresh capital and growing demand, the company is well on its way to becoming the go-to platform for fleet payments in MENA.