OnePort 365, a Lagos, Nigeria-based digital freight forwarding company, raised $5M in Seed funding.
The round was led by Mobility 54 (the Venture Capital arm of Toyota Tsusho and CFAO Group), with participation from SBI Investment, Flexport, Samurai Incubate, and ODX.
The company intends to use the funds for expansion into new markets across the continent.
Led by CEO Hio Sola-Usidame, OnePort 365 provides digital freight solutions that enhance Africa’s participation in global trade. With active operations in Nigeria and Ghana, and ongoing explorations in other markets, OnePort 365 is building an operating system for cross-border trade in Africa, helping traders to manage their freight processes through a digital platform that enables seamless freight forwarding and other value-added services.
With OnePort 365, traders can explore competitive offers on the platform and book freights in 30 seconds or less. They can also connect with shipping and inland transportation vendors and manage the entire process (from booking to payment) on one single platform and get GPS-enabled, real-time visibility of their shipments. They can view all documents relating to the shipment via the platform, eliminating the laborious process of physically retrieving these documents from offices or shipping line centres. The platform also leverages advancements in payment technology and the Pan-African Payment and Settlement System (PAPSS) to power instant payments.
The platform covers air freight, ocean freight, inland haulage (trucking, barge, and rail), as well as Pay-As-You-Go warehousing, marine insurance, customs brokerage and more.