Grace Ashiru
Chargel, a Senegalese logistics tech firm, has raised $2.5 million in initial capital led by Logos Ventures, with participation from Ventures Platform, Foundation Botnar, DFS Labs, and Seedstars, as well as $500,000 in debt financing.
The site connects shippers and transporters online, making a process that used to be done offline more efficient. Chargel also speeds up the shipping process by keeping track of goods in transit and giving truck drivers choices for insurance.
Chargel said that it sold more than $1.2 million worth of goods in 2022, and this year, the site is expected to do even better.
Chargel’s early clients include shipping companies Maersk and Grimaldi. To cover more of the region, Chargel wants to add more shippers to its platform in Senegal and start doing business in another Francophone African country.
The African Continental Free Trade Area will drive a lot of growth in the trucking business in Africa. Freight demand on the continent is expected to grow by 28% by the decade’s end.
Chargel’s owners, who sold their tech company for hotels, Teranga, in 2018, see opportunities in Africa’s expected trade boom.
