Latest news with #AmrGamal
CairoScene
17-06-2025
- Business
- CairoScene
Octane Raises $5.2 Million to Expand Fleet Payments Platform in MENA
Octane Raises $5.2 Million to Expand Fleet Payments Platform in MENA Egyptian fleet-expense startup Octane has raised $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures and SC Holding to grow its operations in Egypt and the wider MENA region. Octane, an Egypt-based digital platform for managing fleet and on-road expenses, has secured $5.2 million in a funding round led by Shorooq, Algebra Ventures and SC Holding. Founded in September 2022, Octane offers a closed-loop digital wallet that consolidates fuel, maintenance, spare parts, and petty cash payments into a single platform. The solution provides fleet operators with real-time control and analytics, helping reduce avoidable fuel and mileage costs by double-digit percentages. It currently supports diesel, petrol and CNG payments, with EV charging capabilities being piloted. Since its launch, Octane has built the largest fleet-payment network in Egypt, with coverage across 2,400 petrol stations and 400 CNG outlets nationwide. Over 1,600 corporate clients, representing a combined fleet of around 250,000 vehicles, use the platform to manage on-road expenses. The startup now employs 200 staff members and was recently recognised with an EEA Award for Rising Entrepreneurs of the Year. "At Octane, we're focused on giving fleets the rails they need to manage day-to-day payments with precision,' said Amr Gamal, Co-Founder and CEO of Octane. 'This funding lets us broaden our acceptance network, expand AI-powered fraud-detection and route-optimisation features, and stay ahead of the shift toward cleaner, more efficient mobility, without adding complexity for our customers.' Octane enters a global market that is seeing increased demand for integrated fleet-expense solutions. While established players like Corpay and WEX have demonstrated the viability of consolidated payment models, newer fintechs such as Coast and Fleetio are driving digital-first adoption. Octane aims to bring this model to Egypt and the region, integrating local tax and compliance needs with advanced automation and insight tools.
Zawya
17-06-2025
- Automotive
- Zawya
Octane secures $5.2mln to transform fleet payments across MENA
Cairo, Egypt: Octane, Egypt's leading digital platform for fleet and on-road expense management, has raised US $5.2 million in a funding round led by Shorooq, Algebra Ventures and Elsewedy Capital Holding. The new capital will accelerate the expansion of Octane's acceptance network, deepen its technology stack and support the company's growth across Egypt and the wider Middle East and North Africa (MENA) region. Unlike traditional fuel cards, Octane delivers a single closed-loop digital wallet that consolidates every on-road expense—fuel, maintenance, spare parts, petty cash and more into one platform. Real-time controls and analytics give fleet operators clear visibility, typically trimming avoidable fuel and mileage costs by double-digit percentages. The solution already supports diesel, gasoline and CNG, with EV-charging payments rolling out at pilot locations to keep pace with customers' evolving energy needs. 'At Octane, we're focused on giving fleets the rails they need to manage day-to-day payments with precision,' said Amr Gamal, Co-Founder and CEO of Octane. 'This funding lets us broaden our acceptance network, expand AI-powered fraud-detection and route-optimization features, and stay ahead of the shift toward cleaner, more efficient mobility, without adding complexity for our customers.' Since its founding in September 2022, Octane has rapidly built Egypt's largest fleet-payment coverage, now spanning 2,400 petrol stations and 400 CNG outlets nationwide. More than 1,600 corporate clients with a total fleet of ~250,000 vehicles rely on the platform to streamline fleet spending, and the company's headcount has grown to 200 employees. Octane's innovative approach earned an EEA Award for Rising Entrepreneurs of the Year. 'The first wave of digitization of mobility companies moved people; the second wave moved goods. But unlike the consumer space, the enterprise space lacked the payments and expense-management infrastructure to enable it. Octane is building that infrastructure,' said Tamer Azer, Partner at Shorooq. 'Octane is redefining financial technology and access products for fleet managers, and We're excited to support them as they scale their world-class technology to every company that operates a fleet across the MENA region.' With fuel prices volatile and logistics costs rising, fleet owners need smarter expense-management tools to protect margins. 'What drew us to Octane wasn't just the size of the problem they're tackling - it was the clarity and precision of their solution,' said Laila Hassan, General Partner at Algebra Ventures. 'In a market where billions leak through inefficiencies and fraud, Octane brings real accountability and control to fleet operators. Their vision extends far beyond fuel, laying the rails for B2B transactions across Egypt's logistics and mobility sectors. We're proud to back a team that's solving today's pain points while setting the foundation for a more efficient, transparent future.' Integrated fleet-expense platforms are gaining momentum worldwide. Established players such as Corpay and WEX prove the demand for centralized fuel and maintenance payments, while newer fintechs like Coast and Fleetio are introducing modern, digital-first tools. Octane is bringing this proven model to Egypt and the MENA region, pairing a broad local acceptance network with controls and analytics tailored to regional tax and compliance requirements, giving operators automation and insight previously available only in mature markets. With its robust network, proprietary technology and growing customer base, Octane is well-positioned to scale as more fleets seek data-driven solutions to control costs and improve operational efficiency. About Octane Founded in 2022, Octane is a Cairo-based fintech offering a closed-loop digital wallet for fleets. The platform enables payments for fuel (diesel, gasoline, CNG and emerging EV charging), maintenance, petty cash and consumables, complemented by spend controls and analytics that reduce waste and improve compliance. Octane operates Egypt's largest fleet-payment acceptance network, serves more than 1,600 corporate clients and is expanding across MENA. About Shorooq Established in 2017, Shorooq is a multi-dimensional investment firm focused on fintech, platforms, software and deep-tech companies across MENA and beyond. Regulated by the ADGM Financial Services Regulatory Authority (FSP: 190004), Shorooq backs category leaders such as Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo. About Algebra Ventures Algebra Ventures is a tech-focused venture-capital firm partnering with resilient founders building transformative companies in Egypt and across Africa. Algebra raised a US $54 million fund in 2016 and a US $100 million second fund in 2022. The firm is a multi-stage investor supporting founders from seed to Series B and provides strategic guidance, co-investment access and talent development.' Media Contacts: Tarek Fouad Chief Marketing Officer, Shorooq Shorooq Group Press: press@ Direct: tfouad@
Broadcast Pro
13-06-2025
- Entertainment
- Broadcast Pro
Amman International Film Festival unveils jury lineup for sixth edition
This year, AIFF has added the Black Iris Award for Best Non-Arab Film to its lineup of honours. The Amman International Film Festival – Awal Film (AIFF) has revealed the distinguished jury members for its sixth edition, set to run from July 2 to 10, 2025, in the Jordanian capital. This year, the festival takes a significant step toward international inclusion by launching the Black Iris Award for Best Non-Arab Film, marking an expansion of its mission to celebrate cinematic excellence across both Arab and global landscapes. Selected for their deep expertise, industry contributions, and diverse cultural backgrounds, the jury members are tasked with evaluating debut works in various categories with fairness and insight. The Arab Feature-Length Narrative Film competition will be judged by Algerian filmmaker Adila Bendimerad, Yemeni director Amr Gamal, Cannes Directors' Fortnight executive Christoph Leparc and veteran Jordanian actor-director Rasheed Malhas. This section focuses on films featuring first-time talents, whether in directing, writing or acting. In the Arab Feature Documentary category, which showcases feature-length nonfiction films by debut directors and editors, the jury comprises Lebanese editor Gladys Joujou, Syrian documentarian Ziad Kalthoum and award-winning British producer-director Mike Lerner. The Arab Short Film competition, open to independent first-time directors of narrative or animated works up to 30 minutes, will be evaluated by Lebanese actress Diamand Abou Abboud, Jordanian director Amjad Al-Rasheed and Indian filmmaker Ajitpal Singh, whose previous work has garnered critical acclaim at the AIFF and beyond. Notably, the festival has restructured the selection process for the Best Non-Arab Film category. Previously decided by audience vote, the winner will now be chosen by a jury composed of members from the AIFF Advisory Board. This new jury includes Lebanese artist Georges Khabbaz, Palestinian filmmaker Rashid Masharawi, Jordanian actress-producer Saba Mubarak, Egyptian director Yousry Nasrallah, Swiss-Iraqi filmmaker Samir and Egyptian-Lebanese documentarian Jihan El-Tahri. The change reinforces the Festival's vision of expanding its critical engagement beyond the Arab world while strengthening the role of its advisory members. Introduced in 2023, the FIPRESCI Prize – awarded by the International Federation of Film Critics – returns to honor excellence in Arab feature-length documentaries. This year's jury includes Iraqi critic Ali Alyasery, Thai scholar Anchalee Chaiworaporn and Austrian journalist Bert Rebhandl, underlining the Festival's commitment to critical perspectives and emerging voices in Arab documentary cinema. In addition to jury awards, the AIFF will continue its tradition of presenting the Audience Award in all four competitive sections. These honours are determined by festivalgoers, highlighting the films that leave the strongest emotional impact on viewers. Running alongside the main festival is the Amman Film Industry Days (AFID), which also appoints a dedicated jury to evaluate film projects in development and post-production. Tunisian producer Dora Bouchoucha, Burundian filmmaker Joseph Bitamba, Spanish film journalist Eduardo Guillot, Jordanian producer Linda Mutawi and Saudi director Abdulaziz Al-Shlahei will assess entries from emerging Arab talent and provide vital support in both financial and in-kind forms. The juries will play a central role in shaping this year's edition by recognising the creativity, ambition, and originality of the next generation of filmmakers. The full list of films and projects selected for competition is expected to be announced soon.
