Sendy, a mobile-based on-demand delivery services platform operating in Kenya, has completed a Series A investment round, led by Dutch PE firm DOB Equity.
DOB Equity will invest alongside CFAO, member of the Toyota Group, and other private investors.
Sendy’s news investment will enable it to increase their platforms’ service offering including adding more delivery vehicles, increasing their coverage area, expanding the sales and technology team, and preparing for future expansion into neighboring countries in East Africa.
According to DOB Equity, the current logistics sector in Kenya is worth $10bn and is fragmented, informal and highly inefficient. Poor infrastructure, limited technology and expertise, a high degree of bureaucracy, and potential security risks make transport costs in East Africa among the highest in the world.
Sendy offers an app-based on-demand marketplace, connecting individuals and companies to delivery service providers, similar to ride-hailing companies like Uber – but focused on goods rather than passengers. Sendy offers customers a wide choice of types and sizes of vehicles, ranging from motorcycles to 28 ton trucks.
Brigit van Dijk – van de Reijt, CEO of DOB Equity says: “A well-functioning logistics sector is key to economic development and competitiveness. However it is often overlooked when analyzing and discussing the impact of investments.”
“Investments in agriculture or manufacturing are not sustainable if there is no efficient supply chain to get products out to the market. As such, DOB Equity is increasingly interested in investing in companies that look to solve economic inefficiencies throughout the supply chain.”