South Africa: Futuregrowth backs logistics software platform

Tripplo, a Johannesburg-based logistics software platform, has secured a $1.8 million equity investment to close out its seed funding extension round. The round was led by Futuregrowth Asset Management (representing Old Mutual Life Assurance Company South Africa) and followed by Galloprovincialis. The two investors join Standard Bank of South Africa, Founders Factory Africa and Digital Africa Ventures.

”We are thrilled to welcome Futuregrowth Asset Management and Galloprovincialis as strategic partners on our journey to reshape the logistics sector,” says Victor Chaitezvi, the founder and CEO of Tripplo.

Amrish Narrandes, head of private equity/capital at Futuregrowth Asset Management, stated: ”The movement of goods is the lifeblood of the South African economy. This investment in Tripplo not only underscores the importance of logistics in our nation’s growth but also emphasises the critical role of innovative management in driving such endeavours. We’re not just investing in a platform; we’re investing in a vision and a team that can truly make a difference.”

By leveraging technology, Tripplo empowers businesses across multiple sectors to streamline their road-freight supply chains, manage rates with contractors, process trips end-to-end electronically, optimise routes, track in real-time, process documents, facilitate working capital for trucks and make data-driven decisions that reduce costs and enhance overall efficiency.

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