Parcel-IT

Redefining on-demand logistics

At a glance

The expansion of the middle-class in Nigeria has resulted in the proliferation of large and small online retailers catering to the ever-increasing number of online shoppers. While these e-shoppers represent more than 20,000 deliveries daily around Lagos and more than $13 billion US annually, they have limited logistics options, with current options taking an average of 3 days or more for deliveries, providing a large market gap for logistics solutions.

Parcel-IT has developed an innovative on-demand logistics platform aimed at targeting the more than 20,000 daily delivery requests around Lagos. Current logistics providers are limited by their own capacity and cannot meet present demand. Parcel-IT’s app solves these problems, by providing access to delivery riders on-demand. The app is designed to be an open marketplace for dispatching riders and is available as a free downloadable app from the Google Play Store or as an API to integrate dispatching with e-commerce providers.

Parcel-IT ensures security through thorough screening and training of its riders, GPS tracking, and providing insurance for the packages in-transit. Delivery riders registered with the app are trained in customer service and platform usage to provide courteous and on-time deliveries. Riders are provided a GPS based location device for their vehicles, which tracks the deliveries in transit and providing real-time information on the package’s journey. Registered riders are assigned deliveries by proximity to the pick-up location. The company aggregates courier companies to ensure a steady supply of riders. The open market place approach allows for expedient dispatch assignments to available riders. Riders register with the platform as independent contractors, enabling them to earn additional revenue in their free time, similar to Uber’s model. The company also applies a “dual-pricing” strategy that allows for premium pricing on after-hours deliveries or at times of high demand. As many of Parcel IT’s customers are actors on Nigeria’s large informal market, the company is developing a risk-scoring solution to facilitate  loyal customers’ transaction capacities with short-term financing.

The company launched its app in June 2017 in Lagos and has registered hundreds of users to the app and processed more than 200 delivery transactions. GreenTec will work closely with Parcel-IT to incorporate a robust fintech solution to help further the platform’s growth.

Company Profile

Established
2018
Country/Region
Nigeria, West Africa
Industry
ITC, Logistics

Investment Check

Impact
impact
impact
CleanTech
cleantech
cleantech
Profitability
profitability
profitability
profitability
Parcel IT app screenshot
Parcel IT app screenshot

Team

Gregory Ojore Asenime

Founder/CEO

Joseph Olubunmi Opeoluwa

Chief Technology Officer

Steve Omogbolahon Araba

Business & Strategy

Ofuzim Anderson Oriani

Brand Manager