Freterium - Afrikan Heroes

Why Investors Backed Morocco’s Freterium In $4 million Seed Round

February 18, 2022

Freterium, a provider of transportation management software based in Morocco, has revealed that it has raised $4 million in its most recent fundraising round, which concluded in December. Partech led the SEED round, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and Business Angels from the United States, Europe, Asia, and Africa.

“This $4 million funding round is an endorsement of our unique model and approach, our team’s capabilities and the tremendous market opportunity. We are grateful for the support of the finest investors that share our vision and our values. The timing is right to scale our product across the region and beyond. For most companies, logistics challenges have become a boardroom conversation. We are already trusted by leaders in their respective industries, and we look forward to putting our product at the Morocco-based T&L Tech startup currently has 20+ enterprise customers and more than 3,000 users of its software disposal of many small and large players that need us,” says CEO Mehdi Cherif Alami.

Freterium has become one of the most well-funded firms in the burgeoning Moroccan ecosystem as a result of this fundraising round.

To drive expansion and service additional companies in Africa and the Middle East, the startup wants to invest its newly acquired capital in its technology and product development. Within the following 12 months, they intend to also double the team’s size.

Why The Investors Invested

“We have been looking closely at the freight trucking market in Africa & the Middle East for the past 5 years, a market worth $250Billion. 85% of the volume is carried through established legacy partnerships between shippers and carriers and still runs with manual, inefficient tools. Freterium has built a holistic approach to solving the key challenges of the industry with a next-generation cloud-based Transport Management Software (TMS) allowing shippers to connect efficiently with their entire logistics ecosystem and collaborate in real time. We are excited to support them in their mission to empower manufacturers, retailers and logistics teams across Africa” commented Cyril Collon, General Partner at Partech.

“The value proposition of Freterium is unique and we are convinced that their product will significantly impact the industry. It’s a Moroccan gem that we are proud to support in its development and growth.” concluded Yassine Haddaoui, Managing Partner at CDG Invest.

A Look At What The Startup Does

Freterium, which began operations in Morocco in 2020, has witnessed rapid growth in 2021, and has built a second office in the United Arab Emirates to serve the region’s bordering markets. Their solution, a next-generation Transport Management Software, allows shippers to collaborate in real-time with their complete logistics ecosystem, saving time and money. Freterium’s simple and straightforward interface is geared at any firm that distributes items on a daily basis: manufacturers, distributors, retailers, and logistics providers across industries can handle all of their shipments in just a few clicks.

Mehdi Cherif Alami, CEO, and Omar El Kouhene, CPO, are Freterium’s co-founders. They previously worked in consulting and logistics, assisting global and local players with strategy and operations.

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Logistics Startup Freterium Becomes Morocco’s First To Go To Y Combinator

June 14, 2021

Freterium, a Casablanca-based logistics startup, will enter the Y Combinator accelerator program this week, providing the startup with a significant chance to meet some of the best investment funds and entrepreneurs in the world to help it grow. Freterium is the first Moroccan firm to be picked by the California-based accelerator, which picks only approximately 1% to 2% of applications and provides them with access to seasoned entrepreneurs’ counsel as well as connections to Silicon Valley’s most famous investors. Freterium plans to expand into the MENA area by opening offices in Dubai, as well as continue to grow in Morocco.

“We began by observing that in 2021, the transportation of commodities for distributors, logisticians, and even industrialists was still highly antiquated. All aspects of the process of transporting goods to customers are still managed manually. I’m referring to email, Excel, or a telephone conversation,” Mehdi Chérif Alami, the startup’s co-founder and CEO, stated. “From receiving the customer’s order to delivering the product, we’ve designed a platform that optimizes and automates the whole process.”

Meeting w/ Mehdi Cherif Alami, CEO & Founder @Freterium [Darija] - Zoom — *Mehdi Chérif Alami is the co-founder and CEO of Freterium*

The startup was founded at the end of 2018 and was part of the inaugural class of 212Founders. In April 2020, it raised 3 million dirhams ($339k) as part of this initiative to help it grow faster.

What Freterium Does

Freterium’s goal is to replace manual procedures with a fully linked ecosystem to change supply chains. The company has created a collaborative network using a SaaS (software as a service) platform. Customers may invite their complete logistics ecosystem to utilize Freterium and incorporate it into the platform.

“For a food sector industrialist, we’ve given him the ability to link his complete network of transportation suppliers, which amounts to roughly twenty service providers. We’ve also built optimization algorithms that will help this firm optimize its transportation strategy and goods deliveries. This allowed them to save 17% on transportation costs, digitize its information flow with its ecosystem, and have comprehensive visibility over its goods flow, including the location, state of the items (in warehouse, transit, or delivered, editor’s note), and product temperature. We also allowed him to manage all the transport invoicing part,” Alami said, without revealing the name of his client.

Joining The Y Combinator Program

The Moroccan startup’s application was chosen for the Y Combinator yearly program after it applied. It will now receive a significant boost during a three-month program that begins this week.

The Y Combinator usually offers a three-month incubation program with high-level mentors and interlocutors.

“It’s a prestigious and very selective program. This will provide us the opportunity to meet alumni entrepreneurs who have launched successful businesses. We will benefit from their suggestions and opinions. We have a session with the Airbnb founders coming up next week, for example,” said Alami.

All of this will eventually lead to the startup’s Demo Day, a pitch day when Freterium’s founders will showcase their firm to a group of hand-picked investors.

“This initiative also enables us to think beyond the box and recruit top talent. Furthermore, it entitles us to a symbolic admittance ticket to the Y Combinator for 125,000 dollars,” Mehdi Chérif Alami said.

The Startup Aims For International Expansion After Leaving The Program

The firm is looking to expand worldwide, notably in the MENA area, in addition to expanding its position in the Moroccan market.

“We now intend to recruit additional employees and grow in the MENA area,” Alami said, “beginning by creating an office in the United Arab Emirates to canvass the region’s markets.”

“Our platform was created with emerging markets in mind. We address challenges that aren’t well-served by firms who specialize on developing transport solutions,” he added.

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