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Morocco’s CloudFret closes $2.1 million to expand its clientele

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Morocco-based logistics startupchas secured a $2.1 million funding round from AfriMobility and Azur Innovation Fund to expand its clientele among shippers and partner carriers.

Founded in 2021 by Driss Jabar, CloudFret focuses on mitigating empty truck returns between the Mediterranean shores through an AI algorithm-driven platform connecting shippers and carriers. This mobile Software as a Service (SaaS) solution is accessible across all European carriers, freight forwarders, and shippers’ download platforms.

Driss Jabar, founder and CEO of CloudFret, elucidated that the platform originated from the observation of trucks covering extensive distances while empty. Beyond benefiting loaders and transporters, the platform empowers partners to expand operations and reduce delivery times, offering real-time updates on the cargo’s journey

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 Beyond benefiting loaders and transporters, the platform empowers partners to expand operations and reduce delivery times, offering real-time updates on the cargo’s journey.

The funding round is aimed at introducing an innovative solution geared towards optimising empty truck returns, specifically targeting the intra-European market.

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CloudFret’s pioneering approach incorporates artificial intelligence to detect empty cargo vehicles, directing them to available goods for transportation. This strategy minimizes empty truck returns, particularly between Europe and Africa.

In addition to optimising empty truck returns, the startup has broadened its services, unveiling a business-to-business (B2B) SaaS marketplace. This marketplace not only provides optimal transport offers but also incorporates additional services such as FastPay payment after delivery, fuel cards with discounts and deferred payments, and cargo insurance at competitive market price

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CloudFret presently serves 130 shipper clients, engaging with 900 transport companies operating 7,000 vehicles across six countries—France, Spain, Morocco, Senegal, Portugal, and Italy.

While sharing projecting the company’s near future Driss Jabar said that “other large-scale investments are in the closing phase,” indicating a promising trajectory for CloudFret as it continues to reshape the transport and logistics industry.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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