Cairo Logistics Startup Gallop Express Acquired by KSA's GLT Express
Already operating as a one-stop-shop for logistics in KSA, UAE, Sudan and Uzbekistan, GLT Express is eyeing one of MENAP’s most prolific markets right now.
KSA’s GLT Express has announced the acquisition of Egyptian logistics specialist, Gallop Express, as part of the former’s ambitious plans to expand its own logistics operations beyond the GCC and into other MENA territories.
GLT Express is the logistics arm of GLT Holdings, a self-proclaimed value chain orchestrator, a progressive firm that in addition to launching GLT Express, has aso dipped its toes into fintech with GLT Fintech and business solutions through GLT Solutions. Through all three arms, the company - founded by Feras Alzamil in 2016 - ultimately aims to aid merchants and vendors in scaling their business, offering a full suite of solutions across a number of different domains.
Having expanded to the UAE as a next logical step, GLT Express also boasts operations in Uzbekistan and Sudan. With the acquisition of Gallop Express, however, GLT hopes to expand its footprint across the region and there are few better places right now than the 100 million-strong Egypt. The logistics sector in Egypt witnesses 44% in growth, with that figure expected to rise over the next few years, thanks to a unique geographical location that can shape it into a logistics hub between Europe, MENAP, Africa and Asia.
"The acquisition of Gallop Express in Egypt was a no-brainer for GLT Holding,” said CEO of GLT Express, Mark Humpheries, a sentiment reflected in the record-high number of exits in Egypt in 2021. There were a total of seven, up from 2020’s 4. Highlight acquisition included Jordan-born, US-based healthtech Aumet’s acquisition of ecommerce startup Platform One and South Africa-based home servicing platform, SweepSouth, acquiring Egyptian counterpart FilKhedma. For Humpheries and co, Egypt tech ecosystem offers GLT ample opportunities to achieve its lofty expansion goals.
“We aim to contribute to the country’s revolutionary vision through providing a list of logistics solutions to Egypt that distinguishes GLT Express from the competition,” Humpheries added. “We are keen on presenting our flexible, tailored technology, building an innovative, multicultural environment and creating strategic alliances, in order to enhance our presence inside the Egyptian market.”
Big words, but they come from big ambitions, as GLT Express aims to become one of the top five logistics operators in the region, presenting itself as a one-stop-shop covering all logistics requirements.