Egypt-based Octane, a digital platform specializing in fleet and mobility expense management, has successfully raised $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding.
This investment will enable Octane to expand its acceptance network, enhance its technological infrastructure, and support growth efforts across Egypt and the broader MENA region. The startup aims to scale its operations to meet the rising demand for smarter, cleaner, and more efficient mobility solutions.
Founded in September 2022 by Ziad El Adawy and Amr Gamal, Octane offers a closed-loop digital wallet that consolidates on-road fleet expenses including fuel, maintenance, spare parts, tolls, and petty cash.
The platform empowers fleet operators with real-time spend controls and advanced analytics, allowing them to reduce excessive costs, particularly those related to fuel and mileage, by double-digit percentages.
Octane currently supports diesel, gasoline, and compressed natural gas (CNG) payments and has launched pilot programs for EV charging infrastructure, in line with global mobility trends.
“This funding lets us broaden our acceptance network, expand AI-powered features such as fraud detection and route optimization, and remain ahead of the curve in the shift toward cleaner, more efficient fleet operations, without adding complexity for our customers,” said Amr Gamal, Co-founder and CEO of Octane.
With over 2,400 petrol stations and 400 CNG sites, Octane has built Egypt’s largest fleet payment network. It currently serves more than 1,600 corporate clients, managing a combined fleet of approximately 250,000 vehicles. The company’s team has grown to 200 employees, and it was recently recognized with the “Rising Entrepreneur of the Year” award by the EEA (Egypt’s Entrepreneur Awards).
As inefficiencies and fraud continue to challenge fleet management across the region, Octane positions itself as a critical B2B infrastructure provider, bringing accountability, scalability, and innovation to Egypt’s and MENA’s logistics and mobility sectors.
