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Goodwell Investments announced the deal in a post on its website today.
Sendy connects businesses and individuals to third party delivery drivers of all vehicle types in Kenya, Uganda and Tanzania. The startup was founded in 2014 by Meshack Alloys, Malaika Judd, Evanson Biwott and Don Okoth.
Sendy was founded in 2014 by Meshack Alloys, Malaika Judd, Evanson Biwott and Don Okoth
Goodwell Investments explained in its statement that the startup’s primary revenue stream is a per-delivery commission charged to the logistics partner.
The investor added that Sendy, which has 700 drivers on its platform, has in the last three years completed over 180 000 deliveries, with the startup posting revenues of $1.5-million last year.
The startup, which plans on expanding throughout East Africa in the near future, is also exploring new distribution models.
These include an “agency model” where packages are aggregated at a central collection point before delivery to the customer.
Goodwell East Africa senior investment manager Joel Wanhoji said in the same statement that Sendy is “already a gamechanger” in the logistics sector.
“Its cutting-edge technology brings efficient capacity utilisation and transparent pricing to a sector that was previously seen as being beyond change.
“Sendy’s platform is enabling savings of more than 20% on the logistics costs, which makes Sendy a good fit within Goodwell’s uMmunthu mandate of providing basic goods and services to people on low and middle incomes — the majority,” added Wanhoji.
Ventureburn sought comment from the startup on what it will use the investment for, among other questions.
While Wendy Akute, a junior community manager at Sendy, acknowledged receipt of Ventureburn’s email, the startup was not immediately able to provide a comment by the time of publication.
Featured image: Two Sendy drivers (Facebook)