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Senegal’s logistics tech startup Chargel raises $2.5M seed funding

Senegal’s logistics tech startup Chargel raises $2.5M seed funding

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After selling their hospitality tech startup, Teranga, in 2018, Senegalese brothers Moustapha and Alioune Ndoye ventured into the trucking business as they pondered their next move. However, it soon became clear to them that fleet management is a major challenge, and one that largely influences the level of profits to be made by truck-owners.

Senegalese logistics tech startup Chargel has raised $2.5m in seed funding from a group of investors led by Logos Ventures. The company, which uses digitisation to match shippers with transporters, recently opened its platform to more clients after limited access to 10 firms, including Maersk and Grimaldi. It is also expanding into one other Francophone African country to increase its regional coverage. The firm expedites the entire transport process, matching clients with the most suitable transporters and pooling together independent transporters to provide new earning opportunities. Freight demand within Africa is expected to grow 28% by 2030 due to the African Continental Free Trade Area, which will drive intra-regional commerce.


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