South Africa: Loop welcomes Smollan as strategic investor
Loop, a delivery management platform, has announced Smollan, a retail solutions company, as its newest strategic investor.
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Loop, a South African delivery management platform, has announced Smollan, a retail solutions company, as its newest strategic investor. This new partnership, combined with the ongoing support of existing investor Lightstone, is expected to fuel the next phase of growth for Loop.
“We are excited to welcome Smollan as a strategic partner,” said Kimberley Taylor, CEO of Loop. “With the combined support of Smollan and our long-standing investors at Lightstone, we are ready to take Loop to new heights – delivering even more groundbreaking solutions for the delivery industry. This collaboration allows us to expand our reach and push the boundaries of what’s possible in logistics and technology.”
“We are delighted to partner with Loop and contribute to their exciting journey," says Jeanette Hern, Smollan chief corporate development officer. "Loop's innovative platform and commitment to revolutionising the delivery landscape align perfectly with our strategic focus on supporting forward-thinking businesses. We see immense potential in Loop's ability to drive efficiency and enhance customer experiences in the rapidly growing delivery sector, and we are confident that our expertise and resources will help them achieve their ambitious growth plans."
Lightstone, owned by Coaxle, invested in Loop eight years ago as an opportunity to enter the logistics market with disruptive technology. Coaxle CEO, Pieter Wessels, said the business played an important role in enabling the massive growth in online shopping witnessed over the past five years.
“I believe the transaction with Smollan will open new opportunities for Loop to continue expanding its core offerings. By combining the shareholders’ capabilities, we will further differentiate and embed the services offered. This marks a promising new era for the business, and I look forward to working with the other stakeholders to create value,” Wessels said.
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