Pargo yesterday announce its expansion into Egypt with the launch of its Collect and Return services.

Pargo, a South African e-commerce logistics company, has expanded into Egypt with the debut of its Collect and Return services, which are now available at over 500 Pargo Points, including Fawry, Circle-K, and Basata stores.

Prior to this expansion, Pargo secured $4 million in funding. The money will help Pargo grow in Egypt's burgeoning e-commerce market.

The funding was secured through 3Capital Ventures, Endeavor, AAD Investment Holdings and UW Ventures led round.

According to the company, this strengthens its logistics network and allows it to better address the growing need for affordable and convenient e-commerce delivery solutions.

Lars Veul and Derk Hoekert co-founded Pargo in Cape Town. To date, they have established one of South Africa's most technologically advanced delivery networks, with over 4000 Pargo Points spread across the country, connecting prominent companies such as Amazon, Bash, and Jumia with 10 million online shoppers.

Pargo's debut into Egypt comes at an important point for the country's e-commerce business, which is rapidly growing.

The company stated that there is an urgent need for efficient, affordable delivery services, with significant e-commerce platforms such as Noon, a fashion and lifestyle platform in the Middle East, becoming one of the first to adopt Pargo's services in Egypt.

"Egypt is one of the most exciting e-commerce markets in Africa, and we are thrilled to bring our Collect and Returns services here,” said Lars Veul, CEO of Pargo. “We see huge potential in the Egyptian market, and this expansion is a major step toward building the largest smart logistics network in the region