University of Michigan International Investment Fund in Cameroon deal
The University of Michigan International Investment Fund (IIF) has announced a pre-Seed investment in Swyft.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
The University of Michigan International Investment Fund (IIF) has announced a pre-Seed investment in Swyft, a Cameroonian logistics tech start-up focused on B2B and B2C delivery services.
Launched in 2019 by a group of MBA students, the University of Michigan IIF invests in and supports small and medium size enterprises in emerging economies.
Franck Batchadji, Swyft founder and CEO said, “This partnership represents a pivotal milestone in our journey to modernise logistics across Cameroon and beyond. We’re solving real problems in first-to-last mile delivery, and it’s incredibly validating to have a partner like IIF who not only believes in our mission but is committed to helping us scale. We’re also deeply grateful to the fund for recognising the urgency and importance of the logistics challenge we’re addressing. We also want to thank the IIF for identifying the critical problem we are solving in the first-to-last mile space and extend our appreciation to all the students who challenged our assumptions and provided invaluable, constructive insight throughout this process. We are incredibly excited for the continued mentorship and support we will receive from the entire IIF community.”
“The IIF is excited about this fruitful, multi-year partnership with Franck and the talented team at Swyft as they embark on an ambitious growth journey both in Cameroon and across the African continent,” the IIF said in a statement.
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here