Sendy, a Kenyan tech-logistics startup has announced completion of a strategic equity investment in Kamtar, a Francophone logistics platform.
Following a recent funding round, Sendy partnered with Mobility 54 Investment SAS, Toyota Tsusho Corporation and corporate venture capital arm, to acquire a significant stake in the logistics company.
Kamtar is a digital logistics startup with 5,000 drivers on its network that connects SMEs and corporate businesses to truckers, allowing for effective delivery operations and cost savings by eliminating intermediaries. The company is owned by Saviu Ventures, an Africa-focused investor with a focus on early-stage startups in Francophone Africa.
With this investment, Sendy will now accelerate its next phase of business growth by launching operations in West Africa and expanding its footprint beyond its current operations in Eastern Africa. For its planned expansion across the globe, Sendy is focusing on strategic greenfield and mergers and acquisitions investments with partners in the supply chain and logistics sector.
Using its technology, expertise, and broader range of services to bolster Kamtar’s capabilities in Cote d’Ivoire and Senegal, Sendy will steadily expand to other French-speaking West African countries by the end of 2022.
Commenting on this latest investment, Mesh Alloys, Sendy Founder and CEO said, “This strategic investment will help us achieve Sendy’s long-term goal of expanding our West African presence and supporting our current customers looking to expand or enter the West African market. We share a joint vision with Kamtar to make it easier to trade across Africa and we’re looking forward to the opportunity to collaborate with Kamtar on product development and technology solutions for customers across the region.”
Rapid economic expansion, the advent of e-commerce, and the launch of the African Continental Free Trade Agreement (AfCFTA), have all contributed to the demand for efficient logistics solutions in Africa. According to the World Bank, AfCFTA operations are expected to increase, with the logistics sector playing a key role in these developments.
Sendy’s cross-continental operations have served over 100,000 enterprises and individuals through an on-demand fleet and completed millions of deliveries so far. It recently grew to help meet the needs of its customers across Africa through Fulfilment, Freight and Supply, providing first-to-last-mile delivery for packages and cargo, as well as everything in between.