Logistics platform Sendy has raised a Ksh2 billion in funding backed by the automotive company Toyota Tsusho.
Sendy, which has been in existence for five years, connects drivers with businesses through technology, making it easier for them to move goods locally and regionally. The funding comes at a time when Sendy plans to grow its customer base and expand to other African countries.
Mr Meshack Alloys, CEO and Co-Founder of Sendy Limited, says that the funding is a big step in achieving the company’s mission in enhancing logistics across Africa.
“We are excited to announce a Ksh2 billion round led backed by Toyota Tsusho Corporation and other investors,” Mr Alloys says. “The funding will go a long way towards achieving our goal of making it easier to trade in Africa.”
Sendy has built a platform that allows businesses to move any type of goods using any type of vehicle. Started in 2015, Sendy has moved goods worth over Ksh300 billion for businesses across East Africa with more than 30,000 customers on its platform.
Some of its customers include Unilever, CFAO, Toyota, Hotpoint, DHL, Maersk, Cargill, Jumia, Safaricom, General Electric, Chloride Exide and Davis & Shirtliff.
Mr Alloys notes that trading in Africa is costly due to logistical challenges, which drive up the prices of goods.
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“Using Sendy’s technology, businesses have been able to lower the cost of logistics by up to 40% and dramatically shortened the time it takes to deliver products to their customers.,” he says. “We are aggressively hiring top talent to scale Sendy across the continent.”
Recently Sendy announced its entry in the Ugandan market, tapping into the demand for logistics in the capital and various towns in the country. Sendy plans to expand to various other markets in Africa by 2021.