Freterium, a Morocco-based trucking logistics tech startup that provides transport management software, raised $4 million in seed funding.
The round was led by Partech, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and angels from the U.S., Europe, Asia, and Africa.
Freterium will use the funding to invest in its tech and product development to fuel growth and serve more companies in Africa and the Middle East. It is planning to double the size of the team within the next 12 months.
Round: Seed Round
Funding Month: February 2022
Lead Investors: Partech
Additional Investors: Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, and Outlierz Ventures
Company Website: https://www.freterium.com/
Software Category: Transport management software
About the Company: Launched in 2020 by Mehdi Cherif Alami and Omar El Kouhene, Freterium has developed transport management software that connects shippers with the entire logistics ecosystem to collaborate in real-time, helping them cut time and shipping costs. Freterium's cloud-based transport management platform offers the easiest and most automated way for manufacturers, retailers, and logistics firms, to manage their daily road freight shipments. It currently has more than 20 enterprise customers and over 3,000 users.