Fundraising: Logidoo consolidates its position in e-commerce and African logistics
Par Ibrahima DIALLO
13 February 2024 / 15:38

Logidoo, a promising company revolutionizing the logistics and e-commerce sector in Africa, announces an exceptional fund-raising round bringing its initial financing to $1,550,000. This resounding success is the result of a financing round led by a group of renowned venture capitalists including Maroc Numeric Fund II (Morocco), 216 Capital (Tunisia), Gullit VC (Ethiopia), Founders Factory Africa (Nigeria), Sunny Side Business Partners (Egypt/Japan) and Kalys Ventures (Morocco).

This fund-raising is a key milestone for Logidoo, demonstrating the market's confidence in its innovative approach to solving a key problem in Africa: the low volume of intra-continental trade compared with regions such as Asia and the EU.

By specializing in "cross-border" logistics, Logidoo is not simply a logistics provider, but a visionary company realizing the vision of the Continental African Free Trade Area (CAFTA).

As an innovative digital platform covering the entire supply chain in Africa, Logidoo is present in Senegal, Morocco, Côte d'Ivoire and Tunisia. It integrates players from both the formal and informal sectors, enabling it to offer a wide range of services, from transport to financial management.

The founder, Tamsir Ousmane Traoré, has solid expertise in logistics, acquired through his career as a teacher, chairman of the logistics commission of the Senegal Private Sector Association, and ten years' experience in the sector.

He is supported by Mohamed Alaoui, a logistics and courier specialist with over 20 years' experience in Morocco and the sub-region. This alliance between founder and market demonstrates a perfect match between vision and needs, and reinforces confidence in Logidoo's direction and strategy.

The company has established itself as a "cross-border end-to-end 5PL" supplier, a phrase that sums up its innovative approach and sets it apart in the logistics sector. Indeed, Logidoo has demonstrated operational efficiency. To date, the company has federated more than 3,000 logistics suppliers, carried out over 100,000 operations, served more than 400 customers and is present in 8 countries across the continent.

Achieving positive EBITDA status since January 2023 further illustrates Logidoo's financial strength and commercial acumen, setting it apart from other loss-making logistics start-ups.

The startup has announced a major expansion project for 2023, which will see it open franchises in five African countries. This plan, supported by the latest fund-raising, aims to strengthen Logidoo's position in the African logistics market. The arrival of new, experienced executives, notably in the strategic positions of CFO and COO, also strengthens the management team.

Logidoo expresses its gratitude to its long-standing investors (UM6P Ventures, Haské Ventures, Launch Africa, Rachid Salik) and newcomers alike, and aims to become the benchmark platform for the development of inter-African trade, in particular by boosting transaction volumes between the various logistics corridors deployed.

Startup kingdom

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