Investment Opportunities invest in Logistics Startup in Navigation & Transportation looking to fund raising at MergerDomo

Posted By - Investment Banker

BUSINESS BRIEF

Company is a Fintech focused on fuel & logistics segment. Objective of the startup is to resolve the issues faced by Fleet Owners on the load and fuel aspects as well as by the SMEs by removing intermediaries from the process.

Company is adding 200 fleet owners and 3000 trucks every month and presently has more than 1200 fleet owners with 20000+ trucks catering to 350 SMEs. Company has tie up with Kotak Bank and NeoGrowth to cater to working capital needs and with Equitas Bank to take care of Fast Tag for online toll payments. Company also has a tie up with BPCL & IOCL for issuance of digital fuel cards.

Company's existing and projected revenue is contributed by SMEs, Oil Companies, Banks / NBFCs, Fleet Owners, Fuel Retailers & Motor Insurance providers. Entirely bootstrapped, the company has achieved a revenue of Rs 6.5 Lacs & Rs 12 Lacs in Aug & Sep 2020 respectively and is slated to achieve a revenue of Rs 25 Lacs in Oct 2020.

Company is presently raising a seed round of Rs 1 Cr for manpower, marketing, technology updation and operations for a runway of 12 months.