Safaricom, a leading mobile network operator in Kenya has announced that it has invested into Nairobi-based local package delivery startup, Sendy through its Spark Fund which was launched in November last year.
Sendy, launched in 2014, offers a marketplace for last-mile package delivery and logistics services, allowing customers to send packages and documents within Nairobi and its environs via a mobile app that connects them to a network of motorcycle riders, and drivers of vans and pickup trucks.
Through its services, Sendy provides customers convenience, competitive pricing, speed and excellent customer service, and allows individual customers and businesses to track their packages in real time through its mobile and web app.
Sendy will use the funds received to invest in its infrastructure, improve its platform, roll out new features and services and grow its team so that it can offer its customers better services.
“We are very pleased to be investing in Sendy, a business with a young, vibrant, innovative and ambitious team,” Safaricom’s Director for Strategy & Innovation Joe Ogutu said in a press release.
He added, “Through Sendy we believe we are investing in more than just a start-up; we’re investing in a business that will transform the lives of everyone it touches, from the customer, to the boda-boda operator to the techie building & maintain the platform.”
In addition to Safaricom’s investment, Sendy will also have access to strategic partnerships, network elements, and a mix of marketing opportunities that will help it expand.
The investment was made through Spark Fund, a Ksh.90 million venture fund which Safaricom intend using to invest in start-ups by purchasing minority equity stake – as opposed to offering grants, or providing convertible debt, thereby allowing young businesses to access the finances needed to grow their businesses.
Since the launch of Spark Fund, which is managed by TBL Invest, Safaricom has received over 400 applications with Sendy becoming the first the first start-up to benefit from the venture fund, although an evaluation process is on-going for start-ups that will benefit from the venture fund – each successful start-up will receive between Ksh.6 million and Ksh.22 million.
Safaricom, formed in 1997 and headquartered in Nairobi, Kenya, provides voice, data, financial services and enterprise solution for a range of subscribers using a variety of platforms.
Sendy, launched in 2014, offers a marketplace for last-mile package delivery and logistics services, allowing customers to send packages and documents within Nairobi and its environs via a mobile app that connects them to a network of motorcycle riders, and drivers of vans and pickup trucks.
Through its services, Sendy provides customers convenience, competitive pricing, speed and excellent customer service, and allows individual customers and businesses to track their packages in real time through its mobile and web app.
Sendy will use the funds received to invest in its infrastructure, improve its platform, roll out new features and services and grow its team so that it can offer its customers better services.
“We are very pleased to be investing in Sendy, a business with a young, vibrant, innovative and ambitious team,” Safaricom’s Director for Strategy & Innovation Joe Ogutu said in a press release.
He added, “Through Sendy we believe we are investing in more than just a start-up; we’re investing in a business that will transform the lives of everyone it touches, from the customer, to the boda-boda operator to the techie building & maintain the platform.”
In addition to Safaricom’s investment, Sendy will also have access to strategic partnerships, network elements, and a mix of marketing opportunities that will help it expand.
The investment was made through Spark Fund, a Ksh.90 million venture fund which Safaricom intend using to invest in start-ups by purchasing minority equity stake – as opposed to offering grants, or providing convertible debt, thereby allowing young businesses to access the finances needed to grow their businesses.
Since the launch of Spark Fund, which is managed by TBL Invest, Safaricom has received over 400 applications with Sendy becoming the first the first start-up to benefit from the venture fund, although an evaluation process is on-going for start-ups that will benefit from the venture fund – each successful start-up will receive between Ksh.6 million and Ksh.22 million.
Safaricom, formed in 1997 and headquartered in Nairobi, Kenya, provides voice, data, financial services and enterprise solution for a range of subscribers using a variety of platforms.
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