That inefficiency translates into higher prices for everyday essentials. Leta, a Nairobi-based logistics technology company, says it has a solution.

The company just secured $5 million in funding to expand its platform, which helps businesses move products faster and at lower costs. The investment was led by European venture capital firm Speedinvest, with backing from Google’s Africa Investment Fund and Equator, an Africa-focused climate tech fund.

In 2022, Leta pulled in $3 million in pre-seed funding to strengthen its presence in five key markets: Kenya, Nigeria, Uganda, Zambia, and Zimbabwe. Since then, the company has scaled really fast, powering 4.5 million deliveries and managing over 7,000 vehicles.

Interestingly, Leta is about making logistics less chaotic. Most businesses in Africa still rely on manual processes to plan and execute deliveries, leading to delays, inefficiencies, and wasted resources. 

Leta’s software changes that by automating key steps—matching shipments to the right vehicles, optimising delivery routes, and tracking orders in real time.

Founder and CEO Nick Joshi explains it simply: “A company with 70 trucks saves about $30,000 monthly using Leta.” That’s because the platform doesn’t just plan routes but reduces the number of vehicles needed for deliveries. Businesses move the same volume of goods but at a lower cost.

The system also makes quick adjustments based on real-world conditions. If a road becomes a trouble spot due to flooding, police stops, or construction, the platform immediately flags it. “For example, if there’s a roundabout where trucks or motorbikes repeatedly fail to complete a turn on that route, the AI flags it,” Joshi said. This flexibility ensures deliveries are completed without unnecessary detours or delays.

Leta is already testing financial products that integrate directly with its platform. These include fuel cards for delivery drivers, financing for fleet owners, and supply chain credit for merchants. Investors see this as a logical next step.

Deepali Nangia, a partner at Speedinvest, explained why her firm backed Leta: “It leverages logistics as a gateway and fintech as a growth driver, unlocking new business opportunities.”

Leta’s approach differs from earlier African logistics startups like Sendy and KOBO360, which focused on aggregating trucks. Many of those companies struggled with high costs of operations and eventually pivoted or shut down. Leta is betting on a software-first model instead—partnering with existing fleet owners rather than managing assets itself.

With the new funding, Leta plans to enter more African and Middle Eastern markets. It already counts major brands like KFC and Diageo as clients and aims to double its revenue in the coming months.

Since 2022, Leta has grown from handling 500,000 deliveries to 4.5 million. It has increased its fleet from 2,000 vehicles to over 7,400 and helped businesses transport 150,000 tonnes of goods.

Driving financial inclusion and economic growth across Africa, Moniepoint was founded in 2015 by Tosin Eniolorunda and Felix Ike. The fintech, formerly known as TeamApt Inc., offers SMEs an integrated suite of services, including digital payments, bank accounts, credit facilities, and business management tools. 

Moniepoint processes over 1 billion transactions monthly, with a total payment volume of over $22 billion.

With this new investment, Visa aims to strengthen Moniepoint’s vision to digitise business operations and drive SME growth in Africa. Speaking on the partnership, Andrew Torre, regional president for Central and Eastern Europe, the Middle East, and Africa at Visa, said:

“Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development. By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond. We are excited to support their next phase of growth and innovation.”

Moniepoint’s Group CEO, Tosin Eniolorunda, stated:

“We are thrilled to announce Visa’s investment in Moniepoint. Visa’s backing is a strong endorsement of our vision to digitise and support African businesses at scale. Together, we aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy.”

Moniepoint has grown commendably, with revenues increasing by over 150% annually in recent years. Its initiative to bridge the financial inclusion gap aligns with Visa’s mission of enabling businesses to thrive in a digital economy. 

The partnership will leverage Moniepoint’s local expertise and Visa’s global resources to enhance digital payment infrastructure, expand access to financial services, and promote innovation for SMEs across Africa.

Visa joins a group of investors, including Google’s Africa Investment Fund, Development Partners International, and British International Investment, all supporting Moniepoint’s mission of creating a financially inclusive society.

The combination of their strengths will enable Moniepoint and Visa to boost African fintech, ensuring SMEs across the continent can scale without limitations and contribute to long-term economic prosperity.