Since tech-based startups started playing a key role by bridging gaps in the logistics sector in Africa, we’ve witnessed tremendous growth in the industry. Several startups, such as Sendy in Kenya have risen to prominence and cut a niche in an industry that was strikingly conservative.
Things are changing for the better as such delivery companies are getting backing from investors. The most recent beneficiary is Lagos-based freight forwarder Topship, which recently closed a $2.5m seed round funding.
The funding was led by Flexport, Y Combinator, Soma Capital and several angel investors. Last year, Topship raised $300, 000 in pre-seed funding, bringing the total raised so far to $2.8 million.
Moses Enenwali the co-founder and CEO founded Topship in 2020 as the pandemic raged on. Leveraging on experience gained working with logistics firms, Enenwali wanted to help merchants easily ship to and from Nigeria.
What started as an Instagram business is now promising to be a leading freight forwarding company in the African continent.
“Our mission to make the shipping experience in Africa as easy and stress-free as booking an Uber ride has brought us significant growth and valuable first-hand lessons that we could have never learned by being on the sidelines,” said a statement by the company.
The company has reportedly served over 1000 merchants in the first quarter of the year, helping them to move cargo across 150 countries.
“With this seed capital, we intend to grow fast and remain asset-ligh.,” the statement further read.