PAPS, a Senegalese logistics and e-commerce firm, has secured $4.5 million in a pre-Series-A funding round led by leading institutional investors as it prepares to grow its operations and tech-enabled service offerings across Africa.
Bamba Lo, a Senegalese digital entrepreneur, launched PAPS in 2016 to provide end-to-end logistics solutions for firms with both physical and online operations.
Its robust technology gives businesses of all sizes a last-mile logistics dimension, enabling them to successfully manage logistics demands with services including storage, international shipping and last-mile delivery.
While discussing its operations, Lo said the gap that the startup is aiming to fill is one that large organizations did not want to address, which is the domestic market, and that it has implemented more than 10 million deliveries across its market segments to fill a portion of this gap.
Its recent pre-Series-A fundraising round was co-led by Orange, a leading telecom business, and 4DX Ventures, a pan-African venture finance firm dedicated to connecting people, ideas and finance to create a successful African continent.
Existing investors such as Saviu Ventures and Uma Ventures joined the round, as well as new investors, including Yamaha Motors, LoftyInc Capital Management, Proparco, Google Black Founders Fund, To.org, Kepple Africa Ventures and Enza Capital.
“I am proud of the amazing work done by all 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, every day,” Lo said.
