Nigeria’s logistics startup, Topship has raised $2.5 million in its seed funding round.
Investors who took part in the funding include Flexport, Y Combinator, Soma Capital, Starling Ventures, Olive Tree Capital, True Capital, Capital X and angel investors including Mercury founder Immad Akhund and Dropbox co-founder Arash Ferdowsi.
Topship says it will use the funding to fund its mission of making the shipping experience in Africa easy and stress-free.
Disrupt Africa reports that in the past quarter, the startup has served over 1,000 and recorded around 50% month-on-month revenue growth.
With this seed capital, we intend to grow fast and remain asset-light. We are investing in strategic partnerships and product innovation tailored to solve a myriad of shipping problems we’ve identified through daily interactions with SMBs, and we are building proprietary global shipping infrastructure and technology to make imports/exports significantly faster, easier, and more affordable for Africans.
Moses Enenwali, Co-founder and CEO of Topship
Launched in June 2020, the firm allows African businesses to export and import cargo, freight and parcels to their suppliers, distributors and customers at any location worldwide.