Egyptian fintech startup Octane is accelerating its mission to modernize fleet and mobility payments across the Middle East and North Africa (MENA) region, with a fresh $5.2 million funding round led by Shorooq Partners, Algebra Ventures, and SC Holding.
Launched in 2022 by Amr Gamal and Ziad Eladawy, Octane has quickly emerged as a game-changer in the enterprise mobility space. The Cairo-based startup offers a closed-loop digital wallet that enables businesses to centralize all fleet-related expenses—fuel, maintenance, spare parts, and even petty cash—under one platform. The goal? To eliminate inefficiencies, reduce fraud, and deliver real-time visibility into fleet spending.
While traditional fuel cards offer limited functionality and lack transparency, Octane’s platform integrates deeply into day-to-day operations, enabling companies to track on-road expenses with precision and implement cost-saving controls. Already operational at over 2,400 fuel stations and 400 CNG outlets across Egypt, Octane boasts the country’s largest fleet-payment acceptance network.
More than 1,600 corporate clients—with a combined fleet of approximately 250,000 vehicles—are now using Octane to manage their mobility-related expenses. The startup has also grown its team to over 200 employees, a testament to both its rapid growth and the increasing demand for digital tools in Egypt’s transport and logistics sector.
With the new funding, Octane plans to scale its operations across MENA, enhance its AI-powered features such as fraud detection and route optimization, and extend support to electric vehicle (EV) charging payments, which are currently being piloted. These moves signal Octane’s intention to not just digitize fleet spending, but to help shape the future of mobility infrastructure in emerging markets.
“We’re building rails for modern fleet payments in a region where operational opacity and inefficiencies are still the norm,” said CEO Amr Gamal. “This capital gives us the fuel to scale our network, deepen our tech, and future-proof the platform for the shift toward cleaner energy.”
Investors see Octane as more than a payments company—they see it as the missing infrastructure layer in B2B mobility. “Octane is solving a huge, under-addressed problem with a clear, scalable model,” said Laila Hassan of Algebra Ventures. “They’re laying the foundation for transparent, data-driven logistics and mobility in Egypt and beyond.”
As demand for integrated fleet solutions grows globally, Octane is positioning itself as MENA’s answer to fintech success stories like WEX and Corpay—only with deeper local insight, regional reach, and purpose-built innovation for the markets it serves.
