Nigeria’s Parcel-it has secured an undisclosed investment fund from Germany-based Greentec Capital. Parcel-it, an alumnus of the Tony Elumelu Entrepreneurship Program is an on-demand logistics start-up launched in 2017 and it’s aimed at targeting over 20,000 daily delivery requests around Lagos, Nigeria which is a $13 Billion annual market.
GreenTec Capital Partners invests in African start-ups and SMEs with a focus on combining social and environmental impact with financial success.
Greentec Capital has invested in Kenyan insurtech startup, Bismart earlier this year. The investment firm has also supported FarmCrowdy (Nigeria), ARED (Rwanda) and AgroCenta (Ghana) in the past.
Parcel-it app is designed to be an open marketplace for dispatching riders and is available as a free downloadable app from the Google Play Store or as an API to integrate dispatching with e-commerce providers.
Parcel-it addresses common pain-points such as security through thorough screening and training of its riders, GPS tracking, and providing insurance for the packages in-transit. Delivery riders are provided with a GPS based location device for their vehicles, which tracks the deliveries in transit and providing real-time information on the package’s journey.
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