Egypt: Digital fuel payments startup Octane records $32mln in one-year sales

Egypt: Digital fuel payments startup Octane records $32mln in one-year sales

Cairo – Octane, an Egypt-based fleet management and digital fuel payments startup, has achieved EGP 1 billion worth of fuel sales in 2023, which marked the first year since operating.

The company witnessed more than 800,000 transactions and fueled 75,000 vehicles from over 500 clients in various sectors last year, according to a press release.

Co-Founder and CEO of Octane, Amr Gamal, said: “Octane team is on a mission to reshape the fleet payment industry in Egypt and the Middle East.”

Gamal highlighted that the sales recorded in one year is a “proof that Octane has successfully solved this problem via its seamless and AI-powered fraud control and structured solution which has helped 500+ customers save 35% from their annual fuel expenditure.”

The startup offers secured digital monitoring process to track the fuelling operations with the best prices for services, lubes, spare parts, and tires, in addition to a wide range of products for vehicles.

Co-Founder and CCO of Octane, Ziad El-Adawy, said: “Our comprehensive system which controls fuel expenses and facilitates digital payments for daily fleet operations also provides fleet performance analytics through live monitoring, in addition to our focus on delivering top-notch customer service and the efforts of our dedicated team, were the