Nigeria: Last-mile logistics platform secures pre-seed investment
Messenger, a logistics platform specialising in last mile deliveries, has raised an undisclosed pre-seed funding round. The investment was led by Nama Ventures with contributions from Aidi Ventures and other angel investors.
Last mile deliveries, the final step in the delivery process that lands products at consumers’ doorsteps, is a burgeoning industry due to the significant rise in e-commerce. A UNCTAD report indicates the e-commerce market in Africa was expected to reach at least $29 billion by 2022. Statista data highlights Nigeria’s e-commerce industry specifically, revealing a market size of $9 billion with an expected growth rate of 11.74%, projecting a market value of $14 billion by 2027. The considerable business opportunity in Africa’s last mile logistics sector emerges from the growing demand for reliable and efficient delivery services amidst an evolving logistics infrastructure.
Messenger is co-founded by siblings Amanda and Essien Etuk, both of whom have extensive experience in their respective fields. Amanda Etuk has a decade of experience in healthcare, FMCG, and logistics, having held senior positions at startups like 54gene and Zippy Logistics (now Loft Africa). Essien Etuk boasts seven years of operations management experience and has served as the founding president of the Abuja Logistics Operators Association, contributing significantly to the formation of The Nigeria Startup Act.
Mohammed Alzubi, founder and managing partner of Nama Ventures says, “This is one of those startups, that when we read their pitch deck, they stood out and we knew straight away of their potential. Amanda and Essein make an amazing team with their domain expertise and complementary skill sets. Also Messenger is tackling a huge market in their service offering, which is always something we look for when evaluating opportunities. We are super excited at Nama to welcome this dream team into the Nama family.”