Haul247, a Nigerian end-to-end logistics platform connecting businesses to haulage and warehousing assets, has raised a $3 million seed round.
The logistics firm will use the investment to increase its market share in Nigeria, expand to other African markets, recruit talent, and develop its technology.
Gender-lens investing fund Alitheia Capital led the $3 million seed funding round via its uMunthu Fund. Investment One also participated in the round through debt funding.
Sehinde Afolayan, the Chief Executive of Haul247, said the funding will enable the company to cement its position as Africa’s Airbnb for trucks and warehouses.
“Our platform connects businesses with reliable and efficient haulage and warehousing assets, making the movement of goods across the continent easier and faster.
With the support of our investors, we will expand to new markets, recruit more talent and develop our technology to make logistics even more accessible and efficient for businesses in Africa,” said Afolayan.
In offering his comment Tokunboh Ishmael, Managing Partner at Alitheia Capital, said “they are excited to be at the forefront of optimising logistics service delivery in key African markets, as trade and commerce is a key lever for driving development.”
How Haul247 works
The start-up allows small businesses and large companies to book trucks and warehouses across multiple African geolocations.
In addition, it has over 1,000 trucks on its platform and about 151,000 square meters of warehouse space across various locations, the company said in a statement.
Haul247 plans to become Africa’s leading platform connecting businesses to haulage and warehousing assets, by addressing the existing challenges.
With over a decade’s experience in the African supply chain business, the start-up remains optimistic in providing reliable logistics solutions to the continent.
Moreover, the company’s three founders are Sehinde Afolayan, Akindele Phillips, and Tobi Obasa.
In April, Chargel, a Senegalese-based logistics firm secured $2.5 million funding for its logistics business.