China-Africa logistics firm Speedaf raises “tens of millions of dollars”

Inage Credit: Speedaf

Speedaf express, a China-headquartered logistics firm with operations in five African countries, announced last week that it has raised “tens of millions of dollars” from three Chinese investment firms to wrap up its Series A financing round. How much each of the investors – Trustbridge, Northern Light Venture Capital, and Vision+ Capital – is investing in the round had not been disclosed as we went to press. No other details of the transaction have been disclosed.

Speedaf has been growing rapidly, specializing in the provision of cross-border, door-to-door logistics services between China and emerging economies. Since its launch, Speedaf has already established a network of distribution centers, stations, and warehouses in Ghana, Kenya, Uganda, Nigeria, and Morocco, allowing it to offer its clients one-stop, fully trackable, logistics services nationwide in each of these countries.

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