Chargel, a Senegalese logistics startup, has raised $750,000 in pre-seed capital to assist it in improving the efficiency, reliability, and transparency of the trucking industry in Senegal and Francophone West Africa.
Century Oak Capital and Logos Ventures, as well as famous angel investors from Senegal, Kenya, Ghana, and Nigeria, participated in the round, which included a mix of equity and debt.
Chargel, co-founded by Moustapha and Alioune Ndoye, connects shippers with the right transporters at the right price, as well as managing payments, fuel management, insurance, and other services.
“We’re ecstatic with the positive feedback Chargel has received from shippers and carriers during its trial phase, and we can’t wait to get started on our objective to make transportation in our region more efficient, reliable, and transparent.” “I can’t express my gratitude to our investors enough for their belief in us and our startup,” he said.
Raja Kaul, the founder and managing partner of Logos Ventures, said he was pleased to support the Chargel founders as they fight to improve Senegal’s trucking industry.
“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.
The startup is establishing Senegal’s largest trucking network, making it easy for thousands of shippers to connect with transporters and allowing transporters to maximize their truck capacity.
The funds will be used to get Chargel’s operations off the ground and prepare the company for a seed round later this year, according to co-founder and CEO Moustapha Ndoye.
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