Senegal-based logistics technology startup Chargel has recently secured $2.5 million in seed funding from a group of investors, including Logos Ventures, Ventures Platform, Foundation Botnar, DFS Labs, and Seedstars. The startup, which was founded by brothers Moustapha and Alioune Ndoye, connects shippers with transporters through its digital platform.
Chargel’s platform simplifies the entire transport process by receiving online requests from clients and matching them with the most suitable providers from its network of transporters. Senders can track their goods while on the move and receive notifications once delivery is complete. The platform also pools together independent transporters, giving them new earning opportunities.
In addition to the recent seed funding, Chargel also received $750,000 in funding last year and $500,000 in debt. The startup aims to expand its operations to one other Francophone African country and increase its regional coverage.
The startup’s goal is to tap into the expected trade boom in Africa, driven by the African Continental Free Trade Area (AfCFTA), the single largest unrestricted trade region in the world. As trade within Africa already relies heavily on road freight transport, this growth is set to further increase the demand for trucking services.
According to Moustapha, Chargel did over $1.2 million in gross merchandise volume (GMV) in 2022 and is close to surpassing that figure so far this year. The startup is dedicated to taking care of everything that happens between shippers and transporters so that both parties can focus on their core businesses.
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