The rise of logistics start-ups has eased the transportation of goods from one location to another, and the headache of the businesses has vanished with the help of such companies. With businesses using the logistics facility at a great speed, these start-up companies are gaining steam in the industry.
As such, Senegal-based logistics start-up company Chargel has announced the raise of US$750,000 in its pre-seed funding round. The funding capital will be used in assisting the improvement of reliability, transparency and efficiency of the trucking industry in Senegal and Francophone West Africa. The company co-founded by Moustapha and Alioune Ndoye, brings the offline process of trucking online, where it allows shippers to connect with the appropriate transporters at the right place. The company also facilitates fuel management, payments, insurance and several other services as well.
Chargel is a start-up company that is successfully establishing the largest trucking network in Senegal.
The start-up is successfully establishing the largest trucking network in Senegal, which is helping to make it a lot easier for thousands of shippers in the region to connect with the right transporters, while it is also enabling the transporters to maximise the potential of their trucks.
The company, Chargel has announced the raise of a US$750,000 pre-seed funding round to initiate its operations in Senegal. A mix of equity as well as debt, the participants of the round included Century Oak Capital and Logos Ventures, with several other prominent investors from Kenya, Ghana, Senegal and Nigeria as well. The co-founder and CEO of Chargel, Moustapha Ndoye has said that the capital from the pre-seed funding would be used to start the operations of the company and prepare the start-up for a seed round that will take place at the end of this year.
Moustapha, the CEO of the company expressed his delight about the acceptance that the company has received from carriers and shippers during the initial time. He also added that the company can’t wait to start working on the aim of making trucking operations more efficient, effective, transparent and reliable in Senegal for the transportation industry. He also appreciated the investors for their confidence and firm belief in the company and its team.
Chargel is fighting for improvement and is trying to bring ease to the trucking industry in Senegal.
The founder and managing partner of Logos Ventures, Raja Kaul said that he was delighted to support the founders of Chargel, as they are fighting for improvement and are trying to bring ease to the trucking industry in Senegal. Expressing his faith in Moustapha and Alioune, he added that the founders of Chargel are well-positioned and extremely capable of establishing the company into the leading place in the logistics marketplace in Senegal.
In the current scenario of the worldwide corporate climate, logistics is a critical component for the growth of the business. Due to the fluctuating needs of the client and the complex company models, the management of logistics is quite difficult to streamline. The entrance of digitization in the industry of transportation and logistics, as the African start-ups bring about solutions for the transportation of goods. Currently, the investors are motivated to address the short-term logistics problems in Africa by the economic and commercial potential.