Africa

Speedaf express Announces Completion of Round A+ Financing to Build a Leading China-Africa Express Brand

Published

on

News Today 2

Speedaf express (www.Speedaf.com), a leading China-Africa integrated logistics service provider, officially announced the completion of its Round A+ financing . This round of financing was led by TRUSTBRIDGE, followed by northern light VENTURE CAPITAL, and VISION+CAPITAL on the basis of Round A. The tens of millions of dollars raised in this round will be mainly used for logistics network expansion in emerging markets, IT system construction and talent team structuring, to build the No.1 brand for China -Africa logistics.

Speedaf express was founded in 2019, with ZTO Express as one of the original shareholders. Speedaf express focuses on cross-border door-to-door logistics services between China and emerging markets such as Africa, the Middle East and South Asia, etc, and provides domestic express services, LTL, warehouse and other value-added services covering the whole region. Relying on a self-built service network and information systems, Speedaf express creates one-stop, full tracking, and door-to-door integrated logistics service solutions. The cross-border air and sea shipping services provided by Speedaf express cover more than 50 countries.

With its localized operations, Speedaf express has launched local express and LTL networks in Ghana, Uganda, Kenya, Nigeria and Morocco. Meanwhile, it has also established distribution centers, stations and warehouses to ensure effective nationwide coverage in those countries.

In the future, Speedaf express will further expand its express and LTL network in Africa and other emerging markets, and will continue to improve the construction and operation of distribution centers, stations, vehicles and line-haul transportation, develop diversified value-added services, and strengthen information management systems.

“We sincerely thank our new and original shareholders for their trust and support of Speedaf express. This is an important milestone in the development of Speedaf express,” said Gary Suo, CEO of Speedaf express. “We are very optimistic about the development prospects of China-Africa cross-border logistics and local logistics business in Africa, and are committed to bringing advanced management concepts and operation models from China’s express industry to Africa. Combined with understanding of local markets and talents, Speedaf express has set out a business model tailored for African nations that will quickly build up a local operation network with guaranteed service quality. In the era of e-commerce, a logistics network capable of covering thousands of households is a necessity. Speedaf express has built up an end-to-end ecology through ‘self-operated + franchised stations’ to better and more flexibly serve a majority of e-commerce platforms and sellers. Improved service quality and network depth will help more enterprises develop in emerging markets.”

Regarding the investment in Speedaf express, Wang Zhaoqian, vice president of northern light VENTURE CAPITAL, said that “Our investment philosophy in the logistics industry is to find new logistics opportunities being generated by new business, and invest in a market with inadequate logistics. Therefore, after initial communication with the Speedaf express team, we swiftly made the decision to invest. We believe Speedaf express will become a logistics giant between China and Africa by building up local service networks in Africa, and further improving air transportation networks.”

Liu Yiran, Partner of VISION+CAPITAL, said, “VISION+CAPITAL led Round A financing for Speedaf express in late 2020 and continues to invest in this round. Speedaf express has achieved rapid growth of both cross-border and local logistics business in just over a year. The rapid financing in a short period of time is the capital market’s recognition and affirmation of the team and the huge potential of the cross-border logistics market. We expect China’s supply chain to play a greater role in post-pandemic cross-border trade, while local logistics infrastructure in Africa willprovidegreater value along with the internetization and booming e-commerce market in Africa.”

The African logistics market has shown rapid growth in recent years thanks to accelerated urbanization, the development of new distribution channels such as e-commerce, and the growth of a FMCG retail sector. Data shows that the sub-Saharan Africa e-commerce market is expected to grow at a compound annual growth rate of approximately 22%. With the increased investment of global capital and e-commerce players, the African e-commerce market is expected to enter a period of rapid growth, resulting in greater logistics demand. In particular, the official launch of the African Continental Free Trade Area on New Year’s Day 2021 will improve the overall convenience and pace of goods’circulation in Africa, encourage more African countries to integrate into the regional and global value chains, and add new impetus and vitality to Africa’s socio-economic development.

As China-Africa economic and trade cooperation deepens, globalization and technological development will create more opportunities for the development of Africa’s logistics industry. Through continuous investment in technology and symbiotic development with partners, Speedaf express will further consolidate its leading position of China-Africa express delivery while building a last-mile logistics network covering “China-Africa”.

Short Link: https://wp.me/pcj2iU-3Ano

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor @ nnn.ng

Recent Posts

Osinbajo rallies youths on active engagement in politics LASG gives 3-day ultimatum to property owners encroaching on canals Patricide: We’ll rely on advice from DPP – Police We are supporting states to intensify cholera outbreak response – NCDC By Abujah Racheal Widow of slain Oyo journalist wants killers brought to justice Buhari appoints Ekpungu EFCC Secretary, names board members Gunmen kill ATM customer in Ibadan Makinde inaugurates Oyo Security Network board, Amotekun corps Nigerian army dismisses video of soldiers mutilating suspect Anambra 2021: PDP NWC meets stakeholders, sues for unity FG pays N10b to 1m beneficiaries every 2 months -Coordinator COVID-19: Union urges Nigerians in S/Africa to obey new lockdown rules COVID-19: World Bank, AU partner to support vaccination for 400m Africans President Buhari reassures commitment to tackle insecurity Verification: customs threatens to detain defaulting airplanes Niger to support special squad to rescue Islamiyyah children Association hails FG’s agric intervention programmes $430m Enugu-Cameroon highway to be completed before 2021 end – AfDB U.S. ready to meet N. Korean officials ‘anywhere, anytime’ – Envoy Rural Entrepreneurship: Agency empowers 200 women, youths in FCT Alleged sexual assault: Baba Ijesha to be arraigned on June 24 Yoga practice best under supervision to prevent complications – Physician My faith in young generation unshakable — Aisha Buhari Court remands man for allegedly beating woman to death NYSC offers free medical services to 2 million rural dwellers 46th Birthday reflections by Gov. Yahaya Bello of Kogi State – Full Speech Iranian nuclear power plant shut for technical reasons 49th Birthday reflections by Gov. Yahaya Bello of Kogi State – Full Speech Crocodiles kill Indonesian mineworker Lagos-Abeokuta expressway: TRACE cautions truck drivers against speeding Buhari greets former I-G Solomon Arase at 65 Germany records flat population growth first time in almost decade England’s COVID-19 vaccine bookings top 1m in 2 days E-Livestock Global fez o launch of the Mastercard solution based on blockchain (chain of blocks and dice) with the objective of increasing the visibility of the non-Zimbabwean bovine industry NAFDAC to register, certify premises of chemical manufacturers Russia urges attention on Iranian oil back to market Angelina Jolie visits Burkina Faso on Refugee Day COVID-19: Bereaved urges compassion for victims’ relatives By Cecilia Ologunagba COVID-19: Nigeria’s Consulate in New York embarks on vaccination drive COVID-19: NCDC reports zero cases June 20 Troops eliminate 20 terrorists in Borno Qatar wants to allow only vaccinated fans to attend 2022 World Cup Switzerland crush Turkey but must wait on Euro 2020 hopes No loss of life in Marina fire outbreak — LASEMA NPFL: Plateau Utd humble Warri Wolves 2-0 to harvest maximum points UBEC commences inspection of model schools across Nigeria Request for daily stock record is statutory requirement — DPR Olympics-bound Anyanacho wins gold at Beirut Taekwondo open Kano govt. declares state of emergency on open defecation Troops foil terrorists’ attack, neutralise scores in Borno town