Thursday, September 23, 2021
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BridgeLinx raises $10M making it Pakistan’s largest Seed Round

BridgeLinx, a digital freight marketplace and logistics solutions provider based out of Pakistan, has raised $10M in the country’s largest Seed round to date. Led by Harry Stebbings’ 20 VC, Josh Buckley’s Buckley Ventures and Indus Valley Capital, the round makes BridgeLinx the best-capitalized freight marketplace in Pakistan.

The round, which was oversubscribed nearly twice over, saw participation from Wavemaker Partners, Quiet Capital, TrueSight Ventures and Soma Capital. Strategic investors such as Flexport and Magnus Rausing’s UNTITLED also participated.

Several high-profile angel investors, including the founders of Convoy and Bazaar, joined the round. The round also attracted capital from some of the largest business groups in Pakistan with interests in cement, textile, electronics, power and automotive, headlined by Maple Leaf Capital.

Harry Stebbings of 20VC, who co-led the round, said in a statement, “For me the best investments combine incredible, category-defining entrepreneurs with macro headwinds. BridgeLinx is just that – a team of phenomenal entrepreneurs operating in a space with limitless potential.”

Through its proprietary platform, BridgeLinx connects shippers – typically large manufacturers and retailers looking to move freight – with carriers such as truckers, owner-operators, transporters and private fleets. BridgeLinx’s technology-enabled solution includes end-to-end load execution, from matching, dispatch and port operations to field support, documentation and payments. By consolidating a highly fragmented market, BridgeLinx offers shippers industry-beating pricing and service, while simultaneously improving economic outcomes for carriers.

“BridgeLinx has cracked the code for making end-to-end freight work in a hassle free manner and therefore signed up some of the top businesses in Pakistan. We believe this team is well on its way to bring unprecedented efficiencies to the country’s economy and are really excited to partner with them,” said Aatif Awan, Managing Partner at Indus Valley Capital.

In less than nine months, BridgeLinx — founded by Muhammad Saad, Ahsan Tanveer, Abbas Hassan and Salman Gul, a team whose professional history spans decades of experience in finance, technology, operations and logistics – has onboarded thousands of carriers to move thousands of freight-loads each week for many of the largest shippers in Pakistan, including Pakistan’s largest textile groups, cement manufacturers, agro-businesses, electronics manufacturers, chemicals companies and virtual marketplaces. More than a fifth of Pakistan’s top 100 exporters actively use BridgeLinx to move freight.

Salman Gul, Co-founder and CEO, said in a statement: “With logistics averaging at 10% of GDP globally, deploying technology to optimize and create visibility across global supply chains is a trillion-dollar opportunity. At BridgeLinx, we are on a mission to redefine the way in which businesses manage supply chains – from procurement and shipping to warehousing and distribution. Our journey starts with road freight in Pakistan, and the talent-dense team we are building is incredibly privileged to be backed by some of the best investors from around the world.”

With this round of funding, BridgeLinx plans to consolidate its position as a market leader in road freight in Pakistan by broadening its product stack and expanding across additional verticals, segments and lanes.

Techish Authorhttp://techishkenya.com
We focus mostly on opinions on Tech, Business, Entrepreneurship and Startups. Plus the usual "biased" Gadget Reviews. Reach out to us at any time mail@tech-ish.com

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