Fueling a Revolution: Octane's Remarkable Inaugural Year
In a groundbreaking achievement for Egypt's fleet management and digital fuel payments landscape, Octane, a pioneering startup, has marked its first year of operations with a staggering EGP 1 billion ($32 million) in fuel sales for 2023.
Reshaping the Fleet Payment Industry
Co-Founder and CEO of Octane, Amr Gamal, expressed the team's commitment to reshaping the fleet payment industry in Egypt and the broader Middle East. He highlighted Octane's success in addressing industry challenges through seamless AI-powered fraud control and structured solutions, resulting in substantial savings for their clients.
Driving Efficiency: Unveiling the Numbers
The company's remarkable journey in 2023 encompassed over 800,000 transactions, fueling 75,000 vehicles belonging to more than 500 clients spanning various sectors. These impressive numbers underscore Octane's impact on fuel expenditure and its pivotal role in streamlining fleet payment operations.
Fueling Success: AI-Powered Solutions
Amr Gamal emphasized that Octane's success lies in its ability to provide a secured digital monitoring process. This process not only tracks fueling operations but also ensures the best prices for services, lubricants, spare parts, and tires. Octane's AI-powered solutions have enabled clients to achieve a 35% reduction in their annual fuel expenditure.
Comprehensive System for Fleet Management
Co-Founder and CCO of Octane, Ziad El-Adawy, shed light on the startup's comprehensive system. This system not only controls fuel expenses and facilitates digital payments but also offers fleet performance analytics through live monitoring. El-Adawy attributed Octane's success to its dedication to top-notch customer service and the collective efforts of its passionate team.
Nationwide Presence: Extensive Fueling Network
Octane's services are available at 2,400 gas stations owned by seven local and international fuel providers across Egypt. The startup's footprint spans from Safaga and Downtown to the Western Desert, Eastern Desert, and East Owainat. This extensive network ensures accessibility and convenience for its diverse clientele.
Diverse Client Portfolio: A Testament to Trust
Octane manages a diverse client portfolio comprising both public and private sectors, overseeing more than 75,000 vehicles. Clients include prominent entities such as the Ministry of Electricity and Renewable Energy, Elsewedy Electric Company, Mwasalat Misr, and Super Jet. Additionally, Octane collaborates with leading names like B.TECH, Travco, El Araby Group, GO Bus, Abou Ghaly Motors, Coventry University, Danone, Wadi Food, Lactel, and Family Corporation.
Octane's remarkable journey over the past year stands as a testament to its transformative impact on the fleet payment industry. With a commitment to innovation, efficiency, and client satisfaction, Octane has not only achieved significant sales milestones but has also set a new standard for digital fuel payments in Egypt and the region.