Messenger, a one stop logistics platform that finances and aggregates end to end logistics and supply chain operations has raised an undisclosed amount in a pre-seed funding round led by Nama Ventures with participation from Aidi Ventures and notable Angels.
Founded in 2018 by Amanda and Essein Etuk, Messenger looks to digitise the retail supply chain in Nigeria through its end-to-end logistics platform. The purpose of this funding is to enable the company grow a strong presence in the last mile logistics market in Africa.
Mohammed Alzubi, Founder and Managing Partner of Nama Ventures says “This is one of those startups, that when we read their pitch deck, they stood out and we knew straight away of their potential. Amanda and Essein make an amazing team with their domain expertise and complementary skill sets. Also Messenger is tackling a huge market in their service offering, which is always something we look for when evaluating opportunities. We are super excited at Nama to welcome this dreamteam into the Nama family.”
According to a report by the United Nations Conference on Trade and Development (UNCTAD) , the e-commerce market in Africa was estimated to be at least $29B by 2022. According to Statista the e-commerce industry in Nigeria has a market size of $9B with an annual growth rate of 11.74% resulting in a market value of $14B by 2027.
Messenger was founded by siblings with distinct skill sets deployed towards the company’s objectives.Amanda Etuk has 10 years’ experience in healthcare, FMCG and Logistics having occupied senior positions across fast growing startups 54gene and Zippy Logistics (Now Loft Africa).
Essien Etuk has 7 years’ experience in operations management with also being the founding president of the Abuja Logistics Operators Association serving as a link between regulators and operators in the city. He also had an impact in driving The Nigeria Startup Bill now The Nigeria Startup Act.
“As a company, Messenger is dedicated to championing last mile deliveries across Africa, one city at a time.” said Amanda Etuk.
The investors were attracted to Messenger’s vision and potential to disrupt the market. As a one-stop logistics platform which aims to revolutionize last mile deliveries across Africa, by providing financing and aggregating end-to-end logistics and supply chain operations, Messenger offers a comprehensive solution to address the logistics challenges in the region.
With its recent launch of a Minimum Viable Product (MVP) and transition to a digital platform, Messenger is well-positioned to acquire new customers and significantly increase its revenue.