Ghanaian e-logistics startup Jetstream Africa raised $13 million in equity and debt pre-Series A where fintech lender and private equity firm Cauris was the sole provider of the debt financing while the equity investors include Octerra, Wuri Ventures, Seed9, The MBA Fund, French development institution Proparco and ASCVC with existing investors Alitheia IDF and Golden Palm also participated.
Jetstream’s new business model is one of a freight forwarder. The company now handles the entire movement of shippers’ cargo (both import and export), charges a fee, and, most importantly, provides financing to those in need. Jetstream’s trade finance product has grown from a $1 million debt secured in mid-2021 to around $9 million in total loans disbursed so far. It expects to more than fivefold that amount by the end of this year.