Funding Logistics?
Where are the investors in logistics / supply chain?
Raising capital is difficult… especially in Africa… but when the company has grown to $11 million USD of revenues in just over five years, with $2.5 million in profits, all built on less than $2 million of investment capital, I expected their fundraising to be not too difficult. I was wrong.
That leaves me with two questions. One, where are the investors interested in logistics, especially highly profitable refrigerated logistics in Africa? Two, is the apparent difficulty that there are no such investors?
It may very well be that no such investors exist. Not for a company based in Rwanda. Investment into Africa is not evenly disbursed, with Rwanda being no where near as popular as Kenya, Nigeria, or South Africa.
But this company doesn’t just operate its 22 trucks inside Rwanda. Most of the time those trucks are driving across East Africa, especially to and from the ports of Mombasa, Kenya and Dar es Salaam, Tanzania.
I’m sharing this today hoping a few of my readers know some investors who would be interested in a company like this. The fundraising is to raise $3-$5 million. There are multiple potential customers each with needs that could use 25+ trucks, and the fleet today is only 22 trucks. $3 million would double the fleet and roughly double the revenues and profits.
We’re thus looking for investors that can write a $1-$3 million check, if not the whole $5 million. Debt or equity. If equity, we’ll list the company on the Stock Exchange of Mauritius to provide liquidity.
The company is TRUK Rwanda, truk.rw. If you can help, please let me know.