Haul247 Revolutionizes Africa’s Logistics Industry with $3 Million Seed Funding

Editorial Desk
By Editorial Desk 3 Min Read

In a groundbreaking move that promises to transform Africa’s logistics sector, Haul247, an end-to-end logistics tech platform, has secured a staggering $3 million in seed funding.

Led by Alitheia Capital’s uMunthu Fund, with participation from Investment One, this investment positions Haul247 to expand its market share in Nigeria and enter new African markets, while also bolstering its technology and talent pool.

With over a thousand trucks at its disposal and an impressive 151,000 square meters of warehouse space across multiple locations, Haul247 is set to disrupt the fragmented African logistics industry.

By leveraging real-time technology, the platform provides businesses with a seamless solution to book trucks and warehouses across the continent, addressing the challenges posed by Africa’s supply-demand mismatch and optimizing logistics service delivery.

“Not only does Africa face a lack of supporting infrastructure and bottlenecks in service delivery, but the logistics sector also suffers from a predominantly informal approach,” explains Sehinde Afolayan, CEO of Haul247. With more than a decade of experience in the African supply chain business, Afolayan emphasizes that solving logistics challenges without addressing warehousing issues leads to increased costs, inefficiencies, and risks.

Haul247’s innovative software streamlines the logistics booking process for individuals, enterprises, manufacturers, and FMCGs in just three steps. This proprietary software takes orders from shippers, attaches a quote, and matches the request with the most suitable truck and warehouse to ensure efficient fulfillment.

The platform also empowers companies seeking warehouse facilities, making Haul247 a versatile and efficient solution for all logistics needs. Furthermore, shippers can track the status of their goods until they reach their destination.

Recognizing the significance of logistics in the success of The African Continental Free Trade Area (AFCFTA), Tokunboh Ishmael, Managing Partner at Alitheia Capital, states, “Our investment enables Haul247 to provide a seamless logistics solution that unlocks value and amplifies impact for individuals and companies, fostering development and driving Africa’s economic growth.”

The seed funding round positions Haul247 as Africa’s premier “Airbnb for trucks and warehouses,” cementing its role in unlocking the continent’s commercial potential while delivering value to clients and partners.

As trade and commerce continue to thrive, Haul247 aims to meet the increasing demand for intra-African freight, expected to rise by 28% by 2030 according to the World Economic Forum. With this investment, Haul247 is poised to shape the future of Africa’s logistics industry and spearhead innovation across the continent.

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