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OnePort 365 is a Nigeria-based digital freight management startup focused on making the entire process seamless in the sector. Facilitating this, the startup has raised $5 million in seed funding.
OnePort 365 will direct the funds towards expanding its team, improving its technology and services efficiency and effectiveness, as well as providing trade finance to shippers.
The freight company’s services include air freight, ocean freight, inland haulage — rail, barge and trucking — pay-as-you-go warehousing, marine insurance, and customs brokerage.
The seed round was led by Mobility 54, the VC arm of Toyota Tsusho and CFAO Group. Participating investors include SBI Investment, Flexport, ODX, a Singaporean syndicate fund, and other angel investors. Samurai Incubate also followed on after participating in OnePort 365’s previous round.
OnePort 365 connects businesses with an efficient digital freight network in Africa, helping them gain end-to-end control of the supply chain. Its reliable freight process enables the complexity minimization of freight shipments, helping customers save over 40% on administrative work.
OnePort’s processes are automated from pick-up to touch-down. The company leverages technology to drive customers’ business objectives and reduce error-rate on a platform that is easy to navigate and accessible from any part of the world.
Founded by Sola-Usidame, the company affirms to have shipped over $15 million worth of goods since its inception three years ago. OnePort is solving the challenges of excessive middlemen in freighting services, lack of tracking system to monitor goods being transported, difficulty in payment methods, documentation, among other problems.
The freight management company tackles these challenges via the provision of end-to-end digitization of freight management for clientele. It is building an operating system for cross-border trade in Africa, helping traders to manage their freight forwarding processes and enabling other value-added services.
OnePort 365 also asserts to cut booking time from 10 to 14 days to minutes. Traders can connect with shipping and inland transportation vendors and manage the entire process — from booking to payments — monitoring their shipments in real-time. On payments, OnePort 365 aggregates different methods enabled by the Pan-African Payment and Settlement System (PAPSS) to enable traders have access to instant payouts.
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