Octane, an Egypt based digital platform for fleet and on-road expense management, has raised $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding.
Unlike traditional fuel cards, Octane offers a closed-loop digital wallet that consolidates every fleet-related expense, from fuel and maintenance to petty cash, into a single platform. It supports diesel, gasoline, and CNG payments, with EV charging being piloted at select locations. Real-time analytics and spend controls give fleet operators visibility and precision, helping them cut costs and reduce fraud.
Co-founded in 2022 by Amr Gamal and Ziad El Adawy, Octane enables fleets to manage day-to-day on-road spending through a unified digital wallet and analytics engine. The platform spans 2,400 petrol stations and 400 CNG outlets across Egypt and is already used by 1,600+ corporate clients managing nearly 250,000 vehicles.
The new funding will deepen Octane’s tech stack, expand its regional acceptance network, and roll out new features like AI-powered fraud detection and route optimization. “We’re giving fleets the rails they need to manage payments with precision—without adding complexity,” said CEO Amr Gamal.
From fuel volatility to rising logistics costs, the need for intelligent, automated expense management has never been greater. “What drew us to Octane wasn’t just the size of the problem, it was the clarity of their solution,” said Laila Hassan, General Partner at Algebra Ventures. “They’re building rails not just for fuel, but for all B2B transactions in logistics and mobility.”
Globally, integrated fleet payment platforms like Corpay, WEX, Coast, and Fleetio are gaining momentum. Octane is bringing that model to Egypt and the broader MENA region, pairing local infrastructure with analytics tailored to regional tax and compliance needs.
