DHL expands Africa eShop online retail app to 34 countries – gpgmail


DHL  has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company’s e-commerce platform to 34 African countries.

DHL  href=”https://Gpgmail.com/2019/04/11/dhl-launches-africa-eshop-app-for-global-retailers-to-sell-into-africa/”>went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers.

Africa eShop operates using startup MallforAfrica.com’s white label fulfillment service, Link Commerce. Similar to MallforAfrica’s model, the arrangement allows Africa eShop users to purchase goods directly from the websites of any of the app’s global partners.

This week’s expansion is the second for DHL’s Africa eShop, after adding 9 markets in May.

DHL’s moves run parallel to significant developments this year in the Africa’s online retail scene—namely Jumia’s big capital raise through its IPO.

Here are Africa eShop’s latest additions: Angola, Benin, Burkina Faso, Burundi, Chad, Ethiopia, Guinea, Lesotho, Namibia, Niger, Sudan, Togo, and Zimbabwe.

MallforAfrica CEO Chris Folayan points to the novelty of online sales in many of Africa eShop’s new markets.

“For some of these countries no one has really tapped into e-commerce the way we’re tapping into it, with an ability to buy online and also buy online directly from places like Macy’s or Amazon,” he told gpgmail on a call.

Payment methods include local fintech options, such as Nigeria’s Paga and Kenya’s M-Pesa. DHL Africa eShop leverages the shipping giant’s existing delivery structure on the continent, through its DHL Express courier service.

To add some context, someone with a mobile phone and bank account in, say, Niger can now use DHL’s app to shop at Macys.com and have anything from designer sneakers to kitchenware shipped to their doorstep in Central-Africa.

DHL AFRICA ESHOP MAP

DHL Africa eShop is also offering incentives to entice first-time digital consumers.

“We will be launching with a promo, buy any 5 items from over 100 retail partners and get a $20 flat shipping fee. This is DHL’s way of showing they are dominant in shipping and eCommerce in Africa.”

As gpgmail highlighted this spring, the launch and expansion of DHL’s MallforAfrica supported platform is creating a competitive scenario with e-commerce unicorn Jumia.

Jumia is Africa’s most visible e-tailer and operates consumer retail and online service verticals in 14 African countries. Headquartered in Lagos, the company raised more than $200 million in an NYSE IPO this April.

DHL launched the Africa eShop product the day before Jumia went public and made its first country expansion only weeks after.

There’s a brewing business debate on which platform is best positioned to capture a larger share of a projected $2.1 trillion in consumer spending (10% online) expected in Africa by 2025.

Then there’s the question of who’s largest. DHL Africa eShop touts itself as “Africa’s Largest Online Shopping Platform.” Jumia said, “We believe that our platform is the largest e-commerce marketplace in Africa,” in its SEC F-1 filing.

On the prospect of going head to head with Africa’s best funded e-commerce company, Chris Folayan is somewhat circumspect.

“We’re note focused on competing with Jumia, but in a way it’s starting to happen as a result of our expansion and growth,” he said.

Two main spectators in a MallforAfrica, Jumia match up could be the big global e-commerce names.

Alibaba has talked about Africa expansion, but for the moment has not entered in full.

Amazon offers limited e-commerce sales on the continent, but more notably, has started with AWS services in Africa.

DHL and partner MallforAfrica plan to bring Africa eShop to all 54 African countries in coming years.

 

 


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Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update – gpgmail


Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.

The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.

Kobo360 looks to grow beyond its Nigeria roots to become a truly Pan-African company, co-founder Obi Ozor told gpgmail .  He co-founded the venture in 2017 with fellow Nigerian Ife Oyedele II.

Since its launch in Lagos, the startup has continued to grow its product offerings, VC backing and customer base. Kobo360 claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.

Kobo360’s latest round is also notable for Goldman Sachs’ involvement. Goldman’s participation tracks a growing list of African venture investments made by the U.S. based finance firm.

Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to gpgmail.

The company — which has a robust Africa sales network — could raise up to 3 billion yuan (or $426 million).

Transsion’s IPO prospectus is downloadable (in Chinese) and its STAR Market listing application available on the Shanghai Stock Exchange’s website.

STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public.

Headquartered in Shenzhen — where African e-commerce unicorn Jumia also has a logistics supply-chain facility — Transsion is a top-seller of smartphones in Africa under its Tecno brand.

The company has a manufacturing facility in Ethiopia and recently expanded its presence in India.

Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development, including a mobile phone R&D center in Shanghai, a company spokesperson said.

The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos, according to a preview of the plan by President Paul Kagame at a public-rally

The director general for the Rwanda Utilities Regulatory Authority, Patrick Nyirishema, confirmed Kagame’s comments were ahead of a national e-mobility plan in the works for the East African nation.

“The president’s announcement is exactly the policy direction we’re in…it’s about converting to electric motos…The policy is prepared, it’s yet to be passed…and is going through the approval process,” Nyirishema told gpgmail on a call from Kigali.

Motorcycle taxis in Rwanda are a common mode of transit, with estimates of 20 to 30 thousand operating in the capital of Kigali.

Nyirishema explained that converting to e-motorcycles is part of a national strategy to move Rwanda’s entire mobility space to electric. The country will start with public transit operators, such as moto-taxis, and move to buses and automobiles.

Ampersand, a Kigali-based e-moto startup, has already begun to pilot EVs and charging systems in Rwanda and will work with the country’s government on the moto-taxi conversion.

In an ExtraCrunch feature, gpgmail delved into tech talent accelerator Andela — one of the most recognized and well funded startups operating in Africa.

In a byte, Andela is Series D stage startup ― backed by $180 million in VC ― that trains and connects African software developers to global companies for a fee.

CEO Jeremy Johnson dished on the company’s strategy toward profitability and responded to some of the criticism it receives ― namely a claim the startup is creating a second brain-drain when software developers leave Andela and Africa, to take positions with global companies.

Today Andela has offices in New York and five African countries: Nigeria, Kenya,  Rwanda, Uganda, and Egypt ― which largely align with the continent’s top tech VC markets.

Across this network the company recruits software developers, builds software engineers, and deploys teams of software engineers.

Johnson disclosed numbers on Andela’s expected new hires for the year, current developer staff, how many departures the company expects, and how many of those will likely leave their home countries―which actually amounts to a fairly small percentage.

gpgmail checked in with Nigerian fintech company Interswitch for the latest on its anticipated dual-listing London and Lagos stock exchanges.

A Bloomberg News story (based on background sourcing) revived speculation the IPO could happen this year for the company — which provides much of Nigeria’s digital banking infrastructure and has expanded its operations presence and payments products across Africa and globally.

Reports that Interswitch could be one of the earliest big tech companies out of Africa to go public trace back to 2016, when CEO and founder Mitchell Elegbe told gpgmail the company was considering a listing before the end of that year.

Last month, an Interswitch spokesperson would neither confirm or deny a pending IPO, per a gpgmail inquiry. So, it’s still tough to say if or when the company could list. But there are still several reasons why the business (and its possible IPO) are worth keeping an eye on, which we detailed in the update story.

 

One could be an eventual increase in venture funding to African startups, that could come from Interswitch. Another could be an Interswitch IPO adding another benchmark for global investors to gauge Africa’s tech sector beyond Jumia — the e-commerce company that became the first big tech firm operating in Africa to launch on a major exchange, the NYSE in April.

More Africa-related stories @gpgmail

African tech around the ‘net

 


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Urbvan raises $9 million for its private shuttle service in Mexico – gpgmail


As cities in emerging markets grapple with increasingly traffic-clogged and dangerous streets, Urbvan, a startup providing private, high-end transportation shuttles in Mexico, has raised $9 million in a new round of financing.

Co-founded by Joao Matos Albino and Renato Picard, Urbvan is taking the reins from startups like the now-defunct Chariot and tailoring the business for the needs of emerging market ecosystems.

Hailing from Portugal, Albino arrived in Mexico City as a hire for the Rocket Internet startup Linio. Although Linio didn’t last, Albino stayed on in Mexico eventually landing a job working for the startup Mercadoni, which is where he met Picard.

The two men saw the initial success of Chariot as it launched from Y Combinator, but were also tracking companies like the Indian startup Shuttl.

“We wanted to make shared mobility more accessible and a little bit more efficient,” says Albino. “We studied the economics and we studied the market and we knew there was a huge urgency in the congested cities of  Latin America.”

Unlike the U.S. — and especially major cities like San Francisco and New York — where public transportation is viewed as relatively safe and efficient, the urban environment of Mexico City is seen as not safe by the white collar workers that comprise Urbvan’s principle clientele.

The company started operating back in 2016. At the time it had five vans that it leased and retrofitted to include amenities like wi-fi and plenty of space for a limited number of passengers. Since those early days the company has expanded significantly. It now claims over 15,000 monthly users and a fleet of 180 vans.

Urbvan optimized for safety as well as comfort, according to Albino. The company has deals with WeWork, Walmart and other retailers in Mexico City so that all . of the stops on t he route are protected and safe. The company also vets its drivers and provides them with additional training because of the expanded capacity of the vans.

Each van is also equipped with a panic button and cameras inside and outside of the van for additional monitoring.

Customers either pay $3 per ticket or sign up for a monthly pass that ranges from $100 to $130.

Financing for the company came from Kaszek Ventures and Angel Ventures with previous investor Mountain Nazca also participating.

For Albino, who went to India to observe Shuttl’s operations, the global market for these kinds of services is so large that there will be many winners in each geography.

“Each city is different and you need to adapt. The technology needs to be adaptable to the city’s concerns . and where it can . add more value,” says Albino. “The Indian market is super different from Latin America.. It’s a huge market with a lot of congestion… But the value proposition is a bit more basic [for Shuttl].”

Urbvan is currently operating in Mexico City and Monterrey, but has plans to expand into Guadalajara later this year.


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Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs – gpgmail


Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.

The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.

Since its launch in Lagos in 2017, Kobo360 has continued to grow its product offerings, VC backing and  customer base. The startup claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.

In addition to customer focus, founders Ife Oyodelo and Obi Azor have prioritized serving the startup’s drivers. They offer the company’s app in languages common to drivers, such as Hausa and Pidgin. 

Kobo360 also launched its own driver working capital finance program, KoPay, KoboSafe insurance product and KoboCare: a suite of driver services from HMO packages to family tuition assistance.

The startup is part of a growing e-logistics and transport space in Africa linking on-demand apps to mobile-based connectivity to move people and goods around the continent more effectively.

In the ride-hail space, global players such as Uber and Bolt are competing with each other and homegrown startups to digitize and capture revenues in the continent’s auto and motorcycle taxi markets.

In e-logistics freight delivery, two startups — Kobo360 and Lori Systems — have continued to compete tit for tat on investment, scale and expansion.

Kobo360 moved into Lori Systems’ HQ country Kenya last year. Lori Systems expanded into Nigeria in September of 2018.

Commercial research firm MarketLine estimated the value of Nigeria’s transportation sector in 2016 at $6 billion, with 99.4% comprising road freight.

Kobo360’s CEO Obi Azor told gpgmail the startup would make final decisions on the 10 new  countries by first quarter 2020.

As a cross-border freight service, the company looks to benefit from Africa’s Continental Free Trade Area (AFCFTA), signed this year by all the continent’s 54 countries to reduce barriers and friction on Pan-African commercial activity.

In addition to lower costs for Kobo360’s country to country freight movement, the startup expects to have a voice in AFCTA’s final implementation.

“We’re going to do some policy work through the IFC so we can help shape AFCTA. The key to the deal is really logistics, so if the logistics component doesn’t work out the deal isn’t going to work,” Azor said.

Kobo360 will use part of its $30 million funding to build out its Global Logistics Operating System —  GLOS for short — a blockchain-enabled platform that will help the company transition to more supply-chain services.

Kobo360 Product Shot Accept Trips

By Digest Africa’s latest ranking, Kobo360’s $20 million Series A is the 5th largest investment in an African startup this year, after Egyptian ride-hail company Svwl’s $42 million raise in June. Kobo360’s existing investors IFC, TLCom Capital and Y Combinator joined the round.

Goldman Sachs confirmed to gpgmail its lead on the Series A. Over the last several years the U.S. based finance firm’s Africa investments have included backing for e-commerce unicorn Jumia (which recently listed on the NYSE) and leading a $52 million investment in South African fintech startup Jumo in 2018.

Goldman Sachs’ Jules Frebault named Kobo360’s ability to scale quickly over a short period of time and use of tech to improve reliability and efficiency in Africa’s logistics ecosystem as a reason for leading the Series A.

“It’s also a business model that’s replicable across multiple geographies on the continent,” he told gpgmail on a call.

Kobo360 has a mind toward international expansion but expects to remain focused on Nigeria and Africa for now. “We’re definitely thinking global, we just want to make sure we close out our home market first, then we’ll start looking outside,” Azor said.

 


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Automotive marketplace Carro acquires Indonesia’s Jualo, extends Series B to $90M – gpgmail


Carro, an automotive marketplace and car financing startup based in Singapore, said it has raised $30 million to extend and close its $90 million Series B financing round and acquired Indonesia-based marketplace Jualo as it looks to further scale its business in Southeast Asia.

The Series B round, for which Carro raised $60 million last year, was funded by SoftBank Ventures Asia, government-linked global investor EDBI, Dietrich Foundation, and NCORE Ventures.

Hanwha Asset Management as well as existing investors including Insignia Ventures, Facebook co-founder Eduardo Saverin’s B Capital Group, Singtel Innov8, Golden Gate Ventures, and Alpha JWC also participated in the round. The three-year-old startup has raised over US$100 million from investors.

“There was an overflow of interest in our Series B round, which we initially closed towards the end of last year. We had a lot of quality strategic investors coming to the and therefore decided to extend the round. The round is now officially closed,” Aaron Tan, founder and CEO of Carro, told gpgmail.

As part of the announcement, Carro said it had acquired Jualo.com, one of Indonesia’s fastest-growing marketplaces where sellers trade new and used goods in over 300 categories including cars, motorcycles, property, fashion, and electronics. Jualo has amassed 4 million monthly active users and facilitated transactions worth $1 billion last year.

Carro, which operates in Singapore, Thailand and Indonesia, said more than $500 million worth of vehicles were sold last year on its platform, up from $250 million in 2017 and $120 million the year before.

Carro has already expanded in terms of services. Initially a vehicle marketplace, it launched Genie Finance and has also forayed into insurance brokerage and road-side assistance. Last year, it introduced a service that completes vehicle sales in 60 minutes — Carro Express. In March this year, Carro launched its first subscription-based car service in Singapore to offer consumers additional flexibility.

Tan said that Jualo, which operates in several more categories than Carro, will continue to operate under its original branding.  “Our aim with Jualo.com is to double down and grow the Jualo.com business; with a strong focus and emphasis on the automotive sector,” he said.

Carro, which sees more than 70% of its transactions come from outside home Singapore, will reveal expansion plans to new markets and more acquisition deals later this year, Tan said. The subscription service will also be extended, he added.

Carro is rivaled by a number of startups, including BeliMobilGue in Indonesia, Carsome, iCar Asia and Rocket Internet’s Carmudi, although with its new raise in the bank Carro is the best-funded by some margin.

iCar Asia, which is managed by Malaysian venture builder Catcha, raised $19 million in late 2017. Last year, Carsome — which covers Malaysia, Singapore, Indonesia and Thailand — raised a $19 million Series B, BeliMobilGue — Indonesia-only — raised $3.7 million and Carmudi landed $10 million.

In the case of Carmudi, the business has retrenched itself. At its peak it covered over 20 markets worldwide across Asia, the Middle East, Africa and Latin America, but today its focus is on Indonesia, the Philippines and Sri Lanka.


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