OnePort 365, a digital freight forwarding company based in Nigeria that makes it easier to transfer cargo to, from, and within Africa, has raised $5 million in seed funding to help it accelerate the end-to-end digitization of freight management in Africa and expand into other markets.
Mobility 54, Toyota Tsusho’s venture capital arm, and CFAO Group led the round, which included SBI Investment, Flexport, ODX, a Singaporean syndicate fund, and other strategic angel investors. After participating in the previous round, Samurai Incubate re-invested.
OnePort 365 has created a freight forwarding platform that allows traders to move cargo efficiently and conveniently to, from, and within Africa, while maintaining complete transparency, visibility, and control, reducing costs and eliminating time and effort inefficiencies associated with traditional supply chain management methods.
“We’re ecstatic to have these investors on board to help us achieve our goal of improving cross-border business across the continent.” We want to make it easier for businesses to take advantage of new legislation like the Africa Continental Free Trade Agreement, which have the potential to usher in a new era of trade on the continent. “We believe that managing freights should be as simple as buying a flight or ordering a ride-hailing service, and we’re working on the operating system to make that happen,” said Hio Sola-Usidame, CEO and founder of OnePort 365.
The startup is developing an operating system for cross-border trading in Africa, with active operations in Nigeria and Ghana.