Frankfurt (Germany) and Nairobi (Kenya), February 2021. Amitruck is currently running a crowdlending campaign on Solylend, the France-based crowdlending platform, and they are well on their way. In fact, the campaign will run for several more days providing enough time for more investors to jump onboard. So far, almost 300 individuals have already invested over 85,000 Euros! While the initial target was set at €100,000, Amitruck is hoping to go beyond this threshold in the coming days!
Amitruck, founded in Nairobi, Kenya in 2018, has developed a trucking logistics marketplace for Kenyan shippers and truckers. According to Mark Mwangi, Amitruck’s Founder and CEO, “Approximately 60% of the total cost of transported goods in Kenya is attributable to ineffeciencies in the logistics supply chain. There are typically 2-3 ‘middle men’ involved in most off-platform delivery transactions, and our digital platform removes that expensive and unnecessary cost.”
The Amitruck digital platform brings shippers, fleet owners, and independent truck drivers together to mutual benefit. Once a cargo owner posts a job, drivers bid for shipping assignments ensuring competitive pricing. The platform empowers both parties to the transaction by providing a transparent and fair system for setting prices and delivery schedules. This transparency allows cargo owners and transporters to spend less and earn more; and this cost savings is ultimately passed on to consumers. “By reducing this cost,” said Mr. Mwangi, “…you greatly improve the ability of lower income families to access critical products such as toothpaste, painkillers, and food.” Every load transported by Amitruck drivers is covered by insurance, providing additional peace of mind to cargo owners. In addition, and of significant importance, shippers and drivers leverage the Amitruck digital platform to optimize the scheduling of deliveries resulting in a more efficient utilization of each truck, thereby positively impacting the environment through reduced carbon emissions.
Amitruck’s platform has already gained impressive traction, with more than 10,000 trips completed as of last January, and close to 4,000 of those trips completed within the past 3 months. The platform is attracting large and small clients, including Jumia, Kenya’s largest E-commerce player. In addition to cargo owners, Amitruck has also attracted more than 260 fleets and 770 independent transporters to the platform. Building on this success, Amitruck plans to use the Solylend funding for financing and working capital to be used to further develop the platform and prepare for further growth in Kenya and beyond.
To learn more about Amitruck and how you can join the crowdlending campaign check the links for the French and English versions of Solylend’s website. The campaign will run for a few more days, so there is still time to join!