Senegalese startup PAPS has raised a US$4.5 million pre-Series A funding round from local and international investors to help it scale its tech-enabled logistics solution across the Francophone African region.
Launched in September 2016, PAPS offers end-to-end logistics solutions for businesses with both offline and online operations. Its technology allows businesses of all sizes to effectively manage their logistics needs, with services including storage, international transport, and last mile deliveries.
The startup told Disrupt Africa as long ago as 2018 that it wanted to become the biggest distribution service in French-speaking Africa, and having already expanded to Ivory Coast it is now targeting further growth on the back of raising US$4.5 million in funding.
The investment was co-led by 4DX Ventures and Orange, with participation from existing investors such as Saviu Ventures and Uma Ventures as well as new investors including Yamaha Motors, LoftyInc Capital Management, Proparco, the Google Black Founders Fund, To.org, Kepple Africa Ventures and Enza Capital.
With the largest last mile fleet in Senegal, PAPS has so far made over 10 million deliveries across Senegal and Ivory Coast, and now plans to extend its offering into other French-speaking markets in West Africa.
“I am proud of the amazing work done by all of the PAPS teams which has enabled us to make this fundraising a reality today. Our ambition is clear – become the first pan-African logistics provider with international standards. We made it our mission to help our clients to be more productive and efficient, everyday. I am also delighted by the trust granted by these renowned investors, who are joining us to build the logistics of tomorrow,” said PAPS co-founder and CEO Bamba Lo.
Walter Baddoo, co-founder and general partner at 4DX Ventures, said his firm had been impressed with the PAPS team’s execution and dedication to “creating a truly innovative business in the logistics space”.
“We believe technology has a critical role to play in modernising Africa’s logistics infrastructure and we look forward to further partnering with Bamba and the PAPS team on this next phase of their growth,” he said.