Lebanese start-up Wakilni acquires stake in Cypriot start-up Svelta

Lebanese e-commerce and logistics start-up Wakilni has acquired a stake in Cypriot e-commerce and courier service start-up Svelta. The deal is in line with the strategic goal of creating a regional partnership, synergistically combining their core technologies, while accelerating the development of innovative solutions in next-gen last-mile delivery and e-commerce services.

The Svelta-Wakilni partnership brings together deep skills in data science and analytics, and applied digital automations and optimisations in e-commerce, last-mile delivery and supply chain, to deliver solutions and added value to businesses, start-ups, online stores and individuals.

“The Svelta-Wakilni partnership is a powerful combination,” noted Svelta CEO Christis Plastiras. “Svelta’s understanding of complex digital interactions, its deep engineering expertise, and agile, collaborative approach is uniquely complimentary to how the Wakilni team works.

“We are confident that the deal will help us continue producing industry-leading technology products and platforms for e-commerce and courier services.”

The strategic partnership enables the two companies to expand their presence in other Europe and Middle East markets immediately, bringing their products to their respective served geographies.

At the same time, Svelta and Wakilni customers will easily be able to expand their reach to new markets. The collaboration represents a step-change in the way both businesses address the evolving needs of the market.

“Together, working as one team, we will unlock the full potential of digital transformations and optimisations, and we will offer our clients a range of services of the latest technology,” said Wakilni CEO Yusr Sabra.