Senegal-based logistics startup PAPS raises USD 4.5 million in Series A round

PAPS, the Senegalese logistics startup, has raised USD 4.5 million in a Series A funding round co-led by 4DX Ventures and ORANGE on 21 January 2022. 

Investors: 4DX Ventures, a pan African venture capital firm, and ORANGE, a regional telecom operator, co-led the latest funding round with participation from Yamaha Motors, Lofty Capital, Proparco, Google Black Founders Fund, To.org, Kepple Ventures and Enza Capital. In addition, existing investors including, Saviu Ventures and Uma Ventures, also contributed to the round.

The Objectives behind the funding: The company plans to deploy the current proceeds towards geographic expansion across other countries in West Africa.

About PAPS

Founded in 2016 by Bamba Lo and Rokhaya Sy, Paps is a transport and logistics company that offers innovative distribution and delivery solutions to companies and merchants. Its on-demand logistics application is designed to facilitate the transportation of shipments across places. The startup’s e-commerce platform offers live tracking, an intelligent address system, and automatic dispatch to provide a fully digitalised postal logistics service, enabling clients to avail timely movement of shipments. PAPS also offers professional services, including management and repayment of cash on delivery, provision of couriers, management of returns, collection and periodic reporting. The company offers logistics solutions for businesses with both offline and online operations. The startup claims to have the largest last-mile fleet in Senegal and has so far made more than 10 million deliveries across Senegal and Ivory Coast.

What the Founder has to say:

PAPS co-founder and CEO Bamba Lo said: “I am proud of the amazing work done by all of 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. I am also delighted by the trust granted by these renowned investors, who are joining us to build the logistics of tomorrow.”

What the Investors have to say:

Walter Baddoo, Cofounder and General partner 4DX, said, “We have been impressed with the PAPS team’s execution thus far and their dedication to creating a truly innovative business in the logistics space. We believe technology has a critical role to play in modernising Africa’s logistics infrastructure, and we look forward to further partnering with Bamba and the PAPS team on this next phase of their growth”. 

Existing Investor of PAPS, Saviu’s co-founder Arthur Thuet said: “The development PAPS went through in the past four years, and the growth we have seen in that timeframe are amazing and position the company as one of the leading innovative providers of logistics solutions in West Africa. We are proud to back Rokhaya, Bamba and their team.”

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