Kenya’s Sendy raises $20 million backed by automotive company Toyota Tsusho to expand to West Africa.
Sendy, which has been in existence for 5 years, connects drivers with businesses through technology making it easier for them to move goods locally and regionally. The funding comes at a time when Sendy’s plan is to grow its customer base and expand to other African countries.
In a statement Mr. Meshack Alloys, CEO and Co-Founder Sendy Limited said that the funding is a great commitment towards achieving the company’s mission.
“We are excited to announce a Ksh 2B round led backed by Toyota Tsusho Corporation and other investors. The funding is a great commitment from our investors and will go a long way towards achieving our goal of making it easier to trade in Africa. “
“At Sendy, we are on a mission to make it easy to trade in Africa. Sendy has built a platform that allows businesses to move any type of goods from point A to B using any type of vehicle. Started in 2015, we have moved goods worth over Ksh 300B for businesses across East Africa with over 30,000 customers on our platform. Some of our customers include Unilever, CFAO, Toyota, Hotpoint, DHL, Maersk, Cargill, Jumia, Safaricom, General Electric, Chloride Exide and Davis & Shirtliff.”
Mr. Alloys noted that trading in Africa is costly due to unreliable, fragmented, and inaccessible logistics driving up the prices of goods higher than they ought to be.
“Using Sendy’s technology, businesses have been able to lower the cost of logistics by up to 40% and dramatically shortened the time it takes to deliver products to their customers. We are aggressively hiring top talent to scale Sendy across the continent.”
Recently Sendy announced its entry in the Ugandan market tapping into the demand for logistics in the capital and various towns of the country. Sendy plans to expand to various other markets in Africa by 2021.