Senegalese logistics startup Chargel secures $750k in pre-seed round
Chargel, a Senegalese logistics startup, has raised a pre-seed funding round of $750,000 to help it make the trucking industry in Senegal and Francophone West Africa more efficient, reliable, and transparent.
Chargel, co-founded by Moustapha and Alioune Ndoye, brings trucking’s offline operations online by matching shippers with the right transporters at the right price, as well as facilitating payments, fuel management, insurance, and other services.
The startup is constructing Senegal’s largest trucking network, allowing thousands of shippers to connect with transporters while also allowing transporters to maximize the capacity of their trucks.
Chargel recently announced that it has raised a pre-seed round of $750,000 to kick-start its operations in Senegal. Century Oak Capital and Logos Ventures participated in the round, which included prominent angel investors from Senegal, Kenya, Ghana, and Nigeria.
Chargel’s co-founder and CEO, Moustapha Ndoye, stated that the funds will be used to launch the company’s operations and prepare it for a seed round later this year.
“We are ecstatic about the response Chargel has received from shippers and transporters during its pilot phase, and we can’t wait to get started on our mission to make trucking in our region more efficient, reliable, and transparent.” “I can’t thank our investors enough for their faith in us and our startup,” he said.
Raja Kaul, the founder and managing partner of Logos Ventures, expressed his excitement to support the Chargel founders as they work to transform Senegal’s trucking sector.
“We strongly believe that Moustapha and Alioune are positioned to build Chargel into a leading logistics marketplace in Senegal, and eventually across West Africa, based on their extensive entrepreneurial experience founding and exiting Teranga Solutions to HotelOnline, as well as working at Senegal’s first unicorn Wave Mobile Money,” he said.
