Ghanaian logistics startup, Jetstream, raises $3m in new funding round

Jetstream, a cross-border trade logistics startup, announced that it has raised $3 million seed round which involved the following local and foreign investors – Alitheia IDF, Golden Palm Investments, 4DX Ventures, Lightspeed Venture Partners, Asia Pacific Land, Breyer Labs, and MSA Capital.

Launched in 2018 by by Miishe Addy and Solomon Torgbor, Jetstream is powered by a network of freight carriers, customs agents and ground transporters that combine technology and on-the-ground know-how to move shipments, of any size, between global markets and the African continent. The company acts as a vertical broker between the fragmented and often-hidden segments of cross-border supply chains in Africa. From instant pricing, to cargo tracking and customs regulation transparency, Jetstream makes the process visible.

Recently, Jetstream was one of the six African fintech startups selected to participate in a prestigious accelerator programme facilitated by the Catalyst Fund.

Jetstream has a simple business model. It charges for the freight, clearance, and financial services offered. For freight, it charges a per-container or per-kilogram fee. For customs clearance, it charges a flat fee that varies depending on the tax category and location of the shipment. And for financing and insurance services, it charges a commission on the value of the goods being shipped.

Jetstream has operations in Ghana and Nigeria with agents present in South Africa, China, the U.S., the U.K., and Europe.