Chargel, a Senegalese logistics company, has acquired $750,000 in pre-seed capital to assist in improving the efficiency, reliability, and transparency of the trucking business in Senegal and Francophone West Africa.
Chargel, co-founded by Moustapha and Alioune Ndoye, connects shippers with the appropriate carriers at the right price, as well as managing payments, fuel management, insurance, and other services.
The business is establishing Senegal’s biggest transportation network, making it easy for thousands of shippers to connect with carriers and allowing transporters to maximise their vehicle capacity.
Chargel recently announced that it has secured a pre-seed round of $750,000 to kick-start its activities in Senegal. Century Oak Capital and Logos Ventures, as well as famous angel investors from Senegal, Kenya, Ghana, and Nigeria, participated in the round, which included a combination of stock and debt.
The cash will be used to get Chargel’s operations off the ground and prepare the firm for a seed round later this year, according to co-founder and CEO Moustapha Ndoye.
“We are super excited by the response Chargel has received from both shippers and transporters during its pilot phase and can’t wait to embark on our mission to make trucking in our region more efficient, reliable and transparent. I can’t thank our investors enough for their trust in us and their faith in our startup,” he said.
Raja Kaul, the founder and managing partner of Logos Ventures, said he was pleased to support the Chargel founders as they fight to improve Senegal’s transportation industry.
“Based on their extensive entrepreneurial experience founding and exiting Teranga Solutions to HotelOnline, as well as working at Senegal’s first unicorn Wave Mobile Money, we strongly believe that Moustapha and Alioune are positioned to build Chargel into a leading logistics marketplace in Senegal, and eventually across West Africa,” he said.
