SENEGAL – Senegalese logistics startup Chargel has closed a US$750,000 pre-seed funding round to help it make the trucking industry in Senegal and Francophone West Africa more efficient, dependable, and transparent.
The funding round, a mix of equity and debt, saw the participation of Century Oak Capital and Logos Ventures, alongside prominent angel investors from Senegal, Kenya, Ghana, and Nigeria.
The funds will be used to get the company’s operations off the ground and prepare the company for a seed round later this year.
Co-founded by Moustapha and Alioune Ndoye, Chargel brings the offline operations of trucking online by matching shippers to the right transporters at the right price, as well as facilitating payments, fuel management, insurance, and other services.
The startup is building the largest trucking network in Senegal, making it easier for thousands of shippers to connect with transporters while also enabling transporters to maximize the capacity of their trucks.
“We are super excited by the response Chargel has received from both shippers and transporters during its pilot phase and can’t wait to embark on our mission to make trucking in our region more efficient, dependable, and transparent,” said Moustapha Ndoye, co-founder and CEO Chargel.
The startup aims to streamline logistics services in the West African country to ensure the efficiency and security of transported goods.
Its robust platform provides reliability, efficiency, and a great user experience to both the carriers and the shippers on its network.
In its attempt to streamline the logistics sector, Chargel helps business owners efficiently run their business as well as take care of consumers by doing timely deliveries.
In today’s worldwide corporate climate, logistics is critical to trade facilitation and has become a critical component of business growth.
Logistics management is difficult to streamline due to fluctuating client needs and complex company models.
Digitization has made its way into the transportation and logistics sector as African start-ups create solutions for transporting goods.
The possibilities for logistics firms in the retail and manufacturing sectors are particularly promising, thanks to a period of sustained expansion in several African countries.
Investors are motivated by economic and commercial potential to address Africa’s short-term logistics problems and enable these firms to develop and grow into other regions.
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