China-Africa logistics company secures investment
Speedaf Express, a China-Africa integrated logistics service provider, officially announced the completion of a funding round led by Trustbridge with participation from Northern Light Venture Capital and Vision Plus Capital.
Speedaf Express was founded in 2019, with ZTO Express as one of the original shareholders. The company focuses on cross-border door-to-door logistics services between China and emerging markets – such as Africa, the Middle East and South Asia – and provides domestic express services, less-than-truckload (LTL), warehouse and other value-added services.
Speedaf Express has launched local express and LTL networks in Ghana, Uganda, Kenya, Nigeria and Morocco. Meanwhile, it has also established distribution centers, stations and warehouses to ensure effective nationwide coverage in those countries.
“We sincerely thank our new and original shareholders for their trust and support of Speedaf Express. This is an important milestone in the development of Speedaf Express,” said Gary Suo, CEO of Speedaf Express. “We are very optimistic about the development prospects of China-Africa cross-border logistics and local logistics business in Africa, and are committed to bringing advanced management concepts and operation models from China’s express industry to Africa. Combined with understanding of local markets and talents, Speedaf Express has set out a business model tailored for African nations that will quickly build up a local operation network with guaranteed service quality.”
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