raised $13 million in equity and debt during its pre-Series A round.With this new investment, the company will be able to grow its business in new countries and keep improving its technology platform, which brings together all of the different logistics and financing providers in the African trade market.
By 2025, the market for cross-border logistics services is expected to reach $32 billion, and Jetstream Africa is positioning itself as a strong player in this competitive industry.
Since the company got $1 million in debt financing in the middle of 2021, it has given out about $9 million in loans. The company wants to make this number five times bigger by the end of this year.
Also, the company has grown its operations, going from giving out one loan per month to as many as 50 loans per month. This has led to a positive EBITDA, a 48% increase in revenue, and a 102% increase in active customers over the past year. The company’s shipment comprises 47% air freight, 44% ocean freight, and 9% ground transport.
Jetstream Africa announced a $3 million seed round 18 months ago. The new funding comes 18 months after that announcement. According to Miishe Addy, the company’s CEO, the new investment will allow the company to grow and improve its services, which bring together different logistics and financing providers.