Octane, a digital platform for fleet and on-road expense management based in Egypt, has secured US$5.2 million in a funding round.

The investment was led by Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding.

The funding will support Octane’s plans to expand its acceptance network, develop its technology infrastructure, and drive growth in Egypt and across the Middle East and North Africa (MENA) region.

Octane offers a closed-loop digital wallet that consolidates multiple on-road expenses, including fuel, maintenance, spare parts, and petty cash, into a single platform.

The system includes real-time controls and analytics to help fleet operators reduce unnecessary fuel and mileage costs.

The platform currently supports diesel, petrol, and compressed natural gas (CNG), with electric vehicle charging payments being piloted.

“At Octane, we’re focused on giving fleets the rails they need to manage day-to-day payments with precision,”

said Amr Gamal, Co-Founder and CEO of Octane.

“This funding lets us broaden our acceptance network, expand AI-powered fraud-detection and route-optimisation features, and stay ahead of the shift toward cleaner, more efficient mobility, without adding complexity for our customers.”

Founded in September 2022, Octane has established what it claims to be the largest fleet-payment network in Egypt, covering 2,400 petrol stations and 400 CNG outlets.

Fleet-expense platforms are gaining traction globally.

Companies such as Corpay and WEX provide centralised fuel and maintenance payment solutions, while newer fintechs including Coast and Fleetio offer digital-first tools.

Octane is adapting this model for Egypt and the wider MENA region, with features tailored to local tax and compliance standards.

With its expanding network, proprietary technology, and growing client base, Octane aims to meet the increasing demand for data-driven fleet management solutions across the region.

Featured image credit: Octane