“It’s all about having the logistics company being able to find them [customers]. We’re changing that paradigm, making sure it’s the job of the logistics company to find you and not you to stay home for six hours,” says Al Rifai.
Fetchr has raised $41 million in a series B round, led by returning investor New Enterprise Associates, with participation from Majid Al Futtaim Holding, BECO Capital, Nokia Growth Partners, Raed Ventures, Iliad Partners, Venture Souq, Swicorp and YBA Kanoo, which sold its courier service to Fetchr in March. The funds are going to be used to introduce new products and features, to also expand Fetchr’s presence in the Middle East, including Jordan within the next two months and Oman by the end of the year says the co-founder Joy Ajlouny.
The company operates in 4 countries including U.A.E, Egypt, Bahrain and Saudi Arabia.Fetchr is about 5 years old and tackles delivery challenges in Arab countries, where it’s almost always too hot to get out of the air-conditioned room you’re in. Users can download the app and pin down their location on Google Map , allowing the app to rely on GPS to deliver the necessary. Fees range between $8 and $13, depending on weight. Ajlouny and co-founder and CEO Idriss Al Rifai will not disclose the number of deliveries Fetchr makes per day. They raised unto $11 million in a round led by Silicon Valley’s New Enterprise Associates. Fetch was the first Arab start-up company to get funding in the early stages from a major U.S venture capital firm. It has launched a fast growing on demand service since then which delivers in under 45 minutes, it has a good standard service. Fetchr costs between $10 and $16. Fetchr has updated a latest feature on its web app, it allows customers to schedule multiple orders at a time through its website making it more convenient to schedule deliveries. The startup has partnered with UPS and FedEx to deliver orders from the U.S., and with DHL for deliveries in the Middle East.
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