Managing fuel and vehicle-related costs for companies in Egypt through Octane's fleet management system.
Egyptian startup Octane, a digital platform designed to modernize on-road payments in markets with outdated infrastructure, has secured $5.2 million in funding from top-tier regional VCs. The funding will be used to significantly expand Octane's fleet payments platform across Egypt and the wider Middle East and North Africa (MENA) region, with ambitions that extend into Africa as well.
Founded in 2022 and based in Cairo, Octane serves over 1,600 corporate clients and operates Egypt's largest fleet-payment acceptance network, covering more than 2,400 petrol stations and 400 Compressed Natural Gas (CNG) outlets. According to Amr Gamal, co-founder and CEO of Octane, the platform combines a proprietary wallet infrastructure with smart acceptance tools to help companies take control of fleet spend, streamline operations, and make data-driven decisions.
The funding will be deployed to broaden Octane's acceptance network, enhance its technology stack, support growth and scaling, diversify payment capabilities, and lay the financial infrastructure for B2B transactions beyond fuel. This includes support for diesel, gasoline, CNG, and piloting EV-charging payments to keep pace with the market’s shift towards cleaner energy.
Octane aims to reduce inefficiencies and fraud by enhancing its technology stack, particularly by expanding AI-powered fraud-detection and route-optimization features. The company also plans to diversify payment capabilities and lay the financial infrastructure for B2B transactions, transforming a traditionally fragmented and inefficient expense line into a streamlined and accountable process.
Octane is currently leading the market share for fleet payments in Egypt and is the only regional solution for emerging markets in the fleet and fuel management landscape. The traditional landscape in MENA and Africa is fragmented, opaque, and paper-based, according to Amr Gamal. Businesses in these regions struggle with manual processes, fraud, and a complete lack of data visibility.
Octane's vision is to create a single closed-loop digital wallet consolidating all fleet expenses into one platform, driving cost control and operational efficiency in a logistics-heavy economy vulnerable to fuel price fluctuations and fraud. The company is localizing global fleet expense management models to fit regional fuel types, tax systems, and supply networks.
In August 2025, Octane plans to expand operations to Saudi Arabia, and in Q2 2026, the company is studying two additional markets for expansion. Octane's ambition is to become the default digital spend layer for fleet-heavy businesses, positioning itself as a key player in the digital transformation of the fleet and fuel management landscape in MENA and Africa.
[1] Octane serves over 1,600 customers across various sectors in Egypt. [2] Octane operates Egypt's largest fleet-payment acceptance network. [3] Amr Gamal, co-founder and CEO of Octane, stated that the platform combines a proprietary wallet infrastructure with smart acceptance tools to help companies take control of fleet spend, streamline operations, and make data-driven decisions. [4] Octane plans to expand operations to Saudi Arabia in August 2025. [5] Octane is studying two additional markets for expansion in Q2 2026.
[1] The digital platform, Octane, serves over 1,600 corporate clients across various sectors in Egypt.[2] Octane operates Egypt's largest fleet-payment acceptance network, encompassing more than 2,400 petrol stations and 400 Compressed Natural Gas (CNG) outlets.[3] In a statement, Amr Gamal, co-founder and CEO of Octane, explained that the platform combines a proprietary wallet infrastructure with smart acceptance tools to help companies control fleet expenditures, streamline operations, and make data-driven decisions.[4] Octane aims to expand its operations to Saudi Arabia in August 2025.[5] Furthermore, the company is studying two additional markets for expansion in Q2 2026.
