African e-logistics platform raises $13m
Jetstream Africa, an e-logistics platform for African exporters and importers, has raised $13 million in a combination of debt and equity financing. The new investors include Proparco, ASC VC, Octerra, Cauris, Wuri Ventures, Seed9, The MBA Fund, W Fund and family offices, among others. Existing investors Alitheia IDF and Golden Palm also participated in the round.
The funds will be used to expand Jetstream into new countries and continue developing its technology platform, which vertically aggregates fragmented financing and logistics vendors.
Jetstream’s proprietary platform provides a one-stop-shop for exporters and importers to apply for trade finance, book shipments, and insure their goods. The platform captures critical supply chain metrics in every shipment, allowing its customers to tap into their own data to make better decisions.
”This round of funding supports Jetstream’s expansion to new markets which capitalizes on trade policies like AfCFTA, enabling richer inter-continental trade which is needed to support inclusive economic development and unleash the continent’s full potential,” says Tokunboh Ishmael, co-founder and principal partner of Alitheia IDF.
”Jetstream has demonstrated its ability to build innovative solutions to boost Africa’s trade competitiveness, helping solve one of the continent’s major challenges,” says Babacar Seck, senior investment officer for venture capital at Proparco.