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UAE-based Load-Me Raises $1M Series A Round

Funding 2 years ago - Sun, Nov 4, 2018, 5:42 AM

UAE-based Load-Me Raises $1M Series A Round
Author: MAGNiTT

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LoadMe, a Dubai, UAE-based startup that is a Digital Transport Broker attached to the first Online Transport Marketplace in the Middle East, has raised USD 1M and is looking to close the total round of USD 5M before year-end. The first $1M of the Series A was deployed by 3 family office establishments from KSA, Mr Abdullah Alshawaf, and 2 Emirati investors.

Load-Me is the operator of an online, B2B, cloud-based portal that matches the available trucking space and loads to be carried in real time in the Middle East. The system is based on the Internet, combined with GPS tracking and smartphone apps.

The company is targeting pre-money valuation of USD 20M for the present Series A Round. It prefers strategic investors with a portfolio or relevant experience in the logistics sector, but would also welcome financial investors. Load-Me is monitored by industry players and has buyout approaches by strategics, but the focus remains on growth, generating value for a potential future acquisition scenario.

A-round proceeds will be used to add sea cargo, air cargo and warehousing services to the marketplace platform. At the same time, LoadMe will be looking to expand its footprint to new markets. No external help has been mandated but Load-Me would welcome approaches from experienced financial advisors.

Sebastian Stefan, the CEO, and two other co-founders hold the majority stake, whilst the UAE VC Prime Venture Partners, port operator DP World and three other institutional investors along with five angel investors own the balance.
None of them has expressed an intention to exit. Load-Me has received a total of USD 1.5M investment so far.

The company is generating revenue since 2016 and is growing month by month with a 300% growth on October only. LoadMe has two revenue streams, one from subscriptions and second as profit margin from load owners who pay the freight charges through the platform.

There are 18,000 registered trucks in its system, with a number of Fortune 500 companies, such as Procter&Gamble or Kuehne+Nagel. All of them are using Load-Me as their transport service provider in the region.

Load-Me aims to continue its expansion by implementing its software with partner logistics brokers all around the world. It is also looking to gain more customers in GCC, mainly corporates with large volumes of cargo.

If you are looking to invest in future industry leading companies of the world, LoadMe can be a good option for you today.

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