On-demand delivery service startup, Sendy, recently raised US$2 million to improve its services and expand beyond Kenya, Uganda and Tanzania.
In the three countries where the delivery company currently operates, Sendy gives its users the means to move products, equipment and other items from one point to another.
The technology Sendy uses allows the user to monitor the driver that is transporting the load, as well as manage multiple deliveries from the same platform.
According to the company, users can save on logistics cost and monitor their spending while using the services.
The delivery company handles the logistics needs of delivering goods to places where they are needed either through a van, a truck or a bike.
Goodwell’s US$2 million investment and Sendy’s goal
According to Joel Wanhoji, senior investment manager, Goodwell East Africa team, Sendy’s goals fit with Goodwell’s uMunthu mandate of providing basic goods and services to low and middle-income earners.
“Sendy’s platform is enabling savings of more than 20% on the logistics costs, which makes Sendy a good fit within Goodwell’s uMunthu mandate of providing basic goods and services to people on low and middle incomes – the majority.”
The company has shown an impressive growth track since its first year in operation. From having 27 drivers signed on to its platform and making a total of 12,000 deliveries, Sendy has grown to encompass 700 drivers on its platform, with a total of 180,000 over the past three years.
In revenue, the delivery company recorded a revenue of US$ 1.5 million in 2018. According to Goodwell, despite the growth, the potential is still massive for Sendy in East Africa.
With the new funding, Sendy is better equipped to help more people access quality products and services at much lower prices, which will, in turn, increase the purchasing power of the majority and improve the standard of living.