PAPS, a Senegalese startup, has raised a pre-Series A funding round of US$4.5 million from local and international investors to help it develop its technology-enabled logistics service across Francophone Africa.
With participation from existing investors such as Saviu Ventures and Uma Ventures, as well as new investors such as Yamaha Motors, LoftyInc Capital Management, Proparco, the Google Black Founders Fund, To.org, Kepple Africa Ventures, and Enza Capital, the funding was co-led by 4DX Ventures and Orange.
PAPS was founded in September 2016 and provides end-to-end logistics solutions for businesses that operate both offline and online. With services like storage, international shipping, and last-mile delivery, its technology enables organizations of all sizes to handle their logistical demands successfully.
“I am proud of all of the PAPS teams’ outstanding efforts, which have enabled us to make this fundraising a reality today.” Our goal is to be the first pan-African logistics company to meet international standards. Every day, we make it our duty to assist our clients in being more productive and efficient. PAPS co-founder and CEO Bamba Lo remarked, “I am especially happy by the trust shown by these prominent investors, who are joining us to develop the logistics of tomorrow.”
PAPS, which has the largest last-mile fleet in Senegal, has done over 10 million deliveries across Senegal and the Ivory Coast to date, and now wants to expand into additional French-speaking West African countries.
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