Established by Sehinde Afolayan, Tobi Obasa, and Akindele Phillips during the COVID-19 lockdowns in 2020, Haul247 acts as a marketplace that seamlessly connects companies with shippers and storage solutions. By doing so, it reduces transportation costs and maximizes the efficient utilization of assets.
With a fleet of over 1,000 trucks and approximately 151,000 sqm of warehouse space across multiple locations, Haul247 is poised for further growth following this $3 million seed round. The funding round was led by Alitheia Capital’s uMunthu Fund and includes debt funding from Investment One. It comes after a successful pre-seed funding round in 2021 and being selected as one of the recipients of the Google for Startups Black Founders Fund in the previous year.
CEO Sehinde Afolayan expressed his excitement, stating that this funding round would solidify Haul247’s position as Africa’s equivalent of Airbnb for trucks and warehouses. He highlighted the challenges faced by Africa’s logistics sector, such as inadequate infrastructure, service delivery bottlenecks, and widespread informal logistics operations. Afolayan emphasized that Haul247 was established to address the supply-demand gap in the ecosystem and that the funding would help optimize logistics service delivery in key African markets. The company aims to expand into new markets, recruit top talent, and enhance its technology, making logistics more accessible and efficient for African businesses.
Tokunboh Ishmael, the managing partner at Alitheia Capital, expressed her firm’s enthusiasm in leading the optimization of logistics service delivery in key African markets. She emphasized the significance of trade and commerce as catalysts for development. Ishmael stated that the investment would enable Haul247 to provide a seamless logistics solution across the continent, unlocking value and amplifying impact for individuals and companies throughout the value chain.
