The investment will be used to support Linebooker’s rapid growth strategy, which aims to improve its technological and operational capabilities to serve its customers more effectively, particularly in the areas of working with transportation providers and handling larger transport volumes.
ARC Investments has been a partner of Linebooker since 2017, and its latest capital injection takes its stake in the company to just over 70%.
The decision by ARC to increase its investment in Linebooker is supported by a number of important factors, including the enormous potential of the South African transportation sector.
Founded in 2017, Linebooker is an online freight platform that connects customers in need of transporting large goods with trucks and other transportation services.
South Africa is one of the largest economies in Africa, and its transportation sector is essential for its economic growth.
However, the sector is also highly fragmented and inefficient, presenting a significant opportunity for companies like Linebooker to streamline and digitize the freight booking process.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Injaro Investment Advisors, a Ghanaian private capital fund manager, has announced a $2 million equity investment in Zeepay Ghana Limited, a wholly Ghanaian-owned global mobile finance service (MFS) provider.
Cameroonian fintech Koree, which helps people save their spare change digitally, has secured $200,000 in pre-seed funding to expand its reach and offer.
Moroccan startup Tookeez, a pioneer in leveraging blockchain technology to improve customer loyalty programs, has secured $1.5 million in funding.
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