Noki Noki, start-up from Congo-Brazzaville, specialized in local logistics and delivery, founded by engineer Jonathan Yanghat, recently closed, 3 years after its creation, a fundraising of 3 million dollars, orchestrated by Uma Ventures
This financing – unprecedented in the Republic of Congo – marks a key step in the company’s pan-African expansion and strengthens its impact in improving logistics services on the continent.
This fundraising of 3 million dollars, or 1.8 billion CFA francs, aims to fuel the scaling up of Noki Noki. The startup, which has confirmed the robustness of its economic model in less than 3 years, with a transaction flow of nearly one billion CFA francs in 2023 ($1.67 million), now aims to further expand its distribution network, innovate in its service offerings and consolidate its presence in new markets.
Redefining delivery standards
Since its creation, Noki Noki has been committed to redefining delivery standards in Africa, with a focus on innovation. A strategic orientation which has allowed it to extend its services beyond Brazzaville and Pointe-Noire, to reach African metropolises such as Dakar, Abidjan, and Libreville where the name of the company, “vite vite” in Lingala, is become synonymous with quality and speed.
At the same time, this flagship of the Congolese digital economy has deployed several solutions to meet a growing demand for reliable and accessible logistics solutions in Africa, such as Noki Food for meal delivery, Noki Drive for purchases in supermarkets, Noki Express or Noki Pay, an integrated payment interface.
“I founded Noki Noki in 2021, driven by a deep faith in the power of African innovation, particularly that of Congo-Brazzaville. We started the adventure with a few motorcycles and a clear ambition: to revolutionize delivery and e-commerce on the continent. This fundraising now brings us closer to our goal: becoming a benchmark in local delivery in Africa. A huge thank you to all our partners, in particular Cabinet Gomes, Obac Capital, and Ya Consulting, for their support,” says Jonathan Yanghat, founder and CEO of Noki Noki.
African delivery market estimated at $80 billion
As a reminder, the African last mile delivery market is growing strongly, driven by the expansion of e-commerce, which is expected to reach $80 billion this year, according to the report “Future of Commerce: Outlook for 2024” ( McKinsey), an annual increase of 25%, compared to 15% globally.
This dynamic is reinforced by the rapid urbanization of the continent (65% of the population will reside in an urban area by 2030), and the improvement of access to mobile Internet – with 4G coverage which has reached 65 % of the population of sub-Saharan Africa in 2022 compared to only 19% five years previously, according to the Global Association of Mobile Operators and Manufacturers (GSMA).
These combined factors are favoring the expansion of the African last-mile delivery market, valued at $1.14 billion in 2021 according to Straits Research, compared to $2.35 billion by 2030. A significant opportunity for companies such as Noki Noki, able to meet this growing demand for fast and reliable deliveries, including same day.
Vinay Vaswani, founder of Uma Ventures, expressed his enthusiasm for the partnership: “our commitment to Noki Noki is based on the deep conviction that this company embodies an exceptional capacity for innovation, essential to meet the challenges of a booming African logistics market . Jonathan Yanghat and his team have demonstrated a keen understanding of industry needs and an ability to thrive as leaders in this market. Their vision coincides with our strategy and that is why we are proud to support them in their growth.”
In addition to its economic impact, marked by the creation of 180 direct and indirect jobs, Noki Noki also stood out for its innovative character and operational excellence, winning the prize for best startup during the 2022 edition of the Salon International de Tech and Innovation in Central Africa (Osiane).
In May 2024, the company took a new step by integrating the TotalEnergies incubator in Pointe-Noire (Congo), after being selected from 100 candidates in the Challenge Startupper competition. This two-year incubation program should allow Noki Noki to accelerate its development, also contributing to boosting the economic capital of Congo-Brazzaville.
By WritingEditorial Committee
