Topship, a Nigerian logistics firm, has acquired $2.5 million in investment to continue building the “Flexport for Africa.”
Topship, which is set to launch in June 2020, enables African businesses to export and import cargo, freight, and packages to their suppliers, distributors, and consumers anywhere in the globe.
The firm describes itself as “Flexport for Africa,” and it has now secured a US $2.5 million initial round from investors including Flexport, the world’s largest digital freight forwarder. Y Combinator, Soma Capital, Starling Ventures, Olive Tree Capital, True Capital, Capital X, and angel investors such as Mercury founder Immad Akhund and Dropbox co-founder Arash Ferdowsi are also investors.
The money will help Topship achieve its goal of making shipping in Africa as simple and stress-free as scheduling an Uber trip. The firm has serviced over 1,000 people in the last quarter and has seen a 50% increase in income month over month.
“With this seed capital, we intend to grow fast and remain asset-light. We are investing in strategic partnerships and product innovation tailored to solve a myriad of shipping problems we’ve identified through daily interactions with SMBs, and we are building proprietary global shipping infrastructure and technology to make imports/exports significantly faster, easier, and more affordable for Africans,” said Moses Enenwali, co-founder and chief executive officer (CEO) of Topship.
“We owe our growth and the resulting investor interest to the retail, e-commerce, and social commerce businesses that trust us every day to move items from their stores/homes to their customer’s doorsteps, anywhere in the world.”
