Ghanaian logistics, Swiftly, Seeks Funding for Expansion
Swiftly, a Ghanaian logistics startup has built a reputation and a solid market presence for itself since it launched, now it is seeking capital funding to push its international expansion project.
Launched in 2016, the logistics startup provides users access to compare statements from its network of shipment forwarders, book shipments, and accept custom and regulatory advice. Via Swiftly users can organize all their courier functions from local deliveries all the way to cross-border deliveries.
While speaking about their price rate, Edem Dotse Swiftly’s CEO told reporters, “Shipping rates directly affect everything we use, and so the price is important to businesses. International shipping is most expensive and cumbersome due to low-tech, outmoded processes, five times more so for Africa trade lanes,”
He also noted that “There is no efficiency in moving sea freight as every year 100 million containers are shipped worldwide almost empty.”
While discussing its status, Swftly is in market competition with logistics counterpacts such as Lori Systems, OnePort 365 and Kobo 360, yet unlike the mentioned, Swiftly is “relatively uncapitalized”.
Although it once raised a pre-seed fund from Draper VC in 2016, it is yet to raise any other as it sustains itself solely on revenues. nevertheless, in the last two years the startup has grown significantly.
Dotse said“At the beginning, we were shipping 100kg for a whole year, but now we are doing over 500 metric tonnes per month.”
While experiencing such growth in the West African nation, Swiftly has it in its plans to expand into new markets, a project such as this definitely requires funding.
Dotse retirated, “We already move goods from all over the world between countries like Ghana, South Africa, Burkina Faso, Kenya, Rwanda, Nigeria and the UK, US, Canada, Australia, and China. Now we want to have a physical presence in French West Africa, and East Africa.”
The major highlits of its expansion plan is to expand its product suite.