MOL PLUS invests in Kenya’s Sendy to expand fulfillment services across Africa
MOL PLUS, the corporate venture capital arm of Mitsui O.S.K. Lines, has announced financing for Kenyan fulfillment and logistics enabler Sendy as part of a new undisclosed round to support it as it expands fulfillment services in Kenya, Uganda, Nigeria, and Ivory Coast.
Thousands of businesses use Sendy’s platforms and APIs to sell and transport items to their customers, making it simple for businesses of any size to move things. The business was established in Kenya and has since expanded to include Uganda, Ivory Coast, and Nigeria. It has intentions to do so in the near future.
This objective will be advanced with the help of money from MOL PLUS, which is a component of a larger round.
“The opportunities to improve logistics and supply chain inefficiencies across Africa are great. We believe our financial and operational partnership with MOL PLUS and MOL Logistics will drive a huge impact not only for the growth of Sendy and its fulfillment network but also for the merchants we serve as we continue to offer more value add and solutions to help them grow and trade more. We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfillment, to grow our services and network of businesses we serve,” said Mesh Alloys, founder and CEO of Sendy.
Sendy and MOL joining forces open the door for synergies that will make logistics for business easier. MOL will work with Sendy to offer more mid-mile and last-mile services to its customers in shipping and freight.
“We were very specific in choosing to invest in Sendy because of the solution that they offer; we share a common goal. We all want to democratise logistics and support businesses in Africa to move their goods reliably and affordably. We look forward to an exciting partnership with Sendy as we forge this joint mission. We endeavour to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value,” said Takuya Sakamoto, representative of MOL PLUS.
