Things have not been going for Sendy in the last couple of weeks. The company was forced to let go 20 percent of its staff, and it halted the supply services operations, choosing to focus on fulfillment.
In a turn of events, Sendy announced funding from MOL PLUS Co., Ltd., which is the Corporate Venture Capital of Mitsui O.S.K. Lines, Ltd. (MOL). MOL PLUS has joined existing Sendy investors as part of a new undisclosed investment round to help scale Fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire.
Through a portfolio of fulfillment services (Direct Fulfillment, Smart Fulfillment, All in one Fulfillment), Sendy provides a way for businesses of any size to move goods, enabling them to drive more efficiency and growth.
Direct Fulfillment supports businesses that require delivery to consumers.
Smart Fulfillment facilitates e-commerce and B2B companies to pick goods, sort, and deliver them to end customers while end-to-end fulfillment is an all-in-one solution that improves the efficiency of online businesses through picking, packing, storage, and shipping their orders.
MOL Logistics provides integrated logistics and supply chain solutions for businesses across the world. MOL PLUS, a corporate venture capital fund of MOL, invests in high-impact companies around the world that transform business models in ocean shipping business and logistics.
MOL will partner with Sendy to provide its customers in shipping and freight with additional mid-mile and last-mile services.
Sendy seeks to grow its fulfillment operations in the continent by providing the easiest way for businesses of any size to move goods, enabling them to drive more efficiency and growth.
“The opportunities to improve logistics and supply chain inefficiencies across Africa are great. We believe our financial and operational partnership with MOL PLUS & MOL Logistics Co., Ltd.(MOL Logistics) will drive a huge impact not only for the growth of Sendy and its fulfillment network but also for the Merchants we serve as we continue to offer more value add and solutions to help them grow and trade more. We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfillment, to grow our services and network of businesses we serve. ” said Mesh Alloys, Founder and CEO of Sendy.
“We were very specific in choosing to invest in Sendy because of the solution that they offer; we share a common goal. We all want to democratize logistics and support businesses in Africa to move their goods reliably and affordably. We look forward to an exciting partnership with Sendy as we forge this joint mission. We endeavor to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value,” said Takuya Sakamoto, Representative of MOL PLUS.