Grace Ashiru
Haul247, a Nigerian end-to-end logistics digital platform that connects companies with haulage and warehousing assets on a single platform, has raised $3 million in seed funding.
Alitheia Capital’s uMunthu Fund was the major investor in this round. Investment One gave a loan to help fund the round.
Sehinde Afolayan, Tobi Obasa, and Akindele Phillips started Haul247 during the COVID-19 lockdowns of 2020. Haul247 is a marketplace that connects companies with shippers and storage, cutting transportation costs and using assets best.
CEO Afolayan says, “Africa’s logistics sector continues to be hampered by a lack of supporting infrastructure, bottlenecks in service delivery, and a widespread informal approach to logistics business.” Small carriers control over 80% of the market with one to three trucks.
We started Haul247 to fix the ecosystem’s mismatch between supply and demand. This cash will help us improve logistics delivery in key African markets. With the help of our partners, we will grow into new markets, hire more talented people, and improve our technology to make logistics for businesses in Africa even more accessible and more efficient.
The company has more than 1,000 trucks in its fleet, and its storage spaces add up to about 151,000 square meters.
With the new money, the business wants to expand into other African markets, hire new people, improve its technology, and grow its market share in Nigeria.
