Senegalese logistics startup Paps has secured an undisclosed amount of investment from a consortium of investors including Launch Africa Ventures, Janngo.africa, 4DX Ventures, Audentes Capital Group LLC, and footballers Jules Koundé and Aurélien Tchouameni.
Founded in 2016 by Bamba Lo and Rokhaya Sy, Paps offers a suite of technology-driven logistics solutions designed to streamline supply chains for businesses across Africa. Their services include on-demand delivery (MyPaps), back-office optimization (PapsOps), and delivery tracking and training (Papser).
Paps currently operates in Senegal, Ivory Coast, and Benin, with plans to expand into Morocco. The company strategically targets the Francophone African market, a region encompassing roughly 25% of the continent’s population.
Africa’s logistics sector is a massive and rapidly growing market, estimated at $344 billion with a compound annual growth rate (CAGR) of 8.9%. This presents a significant opportunity for Paps. The company is well-placed to capitalize on several growth factors, including:
- Rapid urbanization across the continent
- The e-commerce boom
- Initiatives like the African Continental Free Trade Area (AfCFTA) that promote intra-regional trade
This latest investment follows Paps’ previous funding round of US$4.5 million secured in 2022. That round was co-led by 4DX Ventures and Orange, with participation from a mix of established and new investors.
Paps has established itself as a leading player in the Francophone African logistics space. This fresh injection of capital will fuel their expansion plans and drive innovation within the industry.
The participation of footballers Jules Koundé and Aurélien Tchouameni in Paps’ funding round highlights a growing trend of football stars backing African startups. In 2023, a similar trend emerged when footballers including Aurélien Tchouaméni, Jules Koundé, and Mike Maignan participated in a $3 million pre-Series A raise for Cameroon-based mobile video network StarNews Mobile.
Earlier this year, Ghanaian footballer Jeremie Frimpong led a £250,000 pre-seed funding round for Remoteli, a Ghana-based tech talent startup. These developments suggest a growing interest among African footballers to support the continent’s burgeoning startup ecosystem.