Jetstream Africa, a Ghana-based e-logistics platform for African exporters and importers, has raised US$13 million in debt and equity finance to aid in its expansion.
The funding round included participation from existing investors Alitheia IDF and Golden Palm.
ASC VC, Octerra, Cauris, Senegal’s Wuri Ventures, Seed9, The MBA Fund, W Fund, and family offices are among recent investors, along with French development organization Proparco through the Digital Africa Bridge Fund.
Founded in Tema, Ghana, Jetstream Africa is an e-logistics business that serves 14 African nations.
Pre-financed logistics, the company’s flagship product, enables companies to quickly reserve and track door-to-door logistics, financing, insurance, and other trade support services online.
According to co-founder and CEO Miishe Addy, “with this fundraising round, we are delighted to leverage our technology to mirror our clients’ data back to them in the form of business insights, so they may trade more profitably.”
Co-founder and managing partner of Alitheia IDF Tokunboh Ishmael expressed her company’s pride in working with Jetstream to usher in a daring new future for Africa.
According to Ishmael, “this round of funding helps Jetstream’s expansion to new markets that capitalize on trade policies like AfCFTA, enabling richer intra-continental trade that is necessary to enable inclusive economic development and unleash the continent’s full potential.”
The funding will go toward expanding Jetstream’s operations into new countries and improving the company’s technological platform, which brings together in one place the disparate financing and logistical providers who facilitate commerce throughout Africa’s 54 countries.
Read more on Tech Gist Africa:
Farmerline, a company based in Ghana, has raised $1.5 million in a pre-series A funding round
Zeepay, a Ghanaian payment company, has secured a $10 million Series A.5 funding round
Fido, a Ghanaian fintech startup, has raised $30 million in a Series A funding round
