TUNL, a South African parcel shipping platform slashing international shipping costs for e-commerce merchants by 50% to 80%, has secured a $1 million pre-seed funding boost. This investment, led by prominent African venture capital firms Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels, fuels TUNL’s ambitious plans to dominate cross-border trade in Africa and empower emerging market small businesses.
Founded in 2022 by Matthew Davey and Craig Lowman, TUNL’s mission is to unlock the massive potential of African SMEs through affordable international shipping. High cross-border shipping costs often cripple small businesses, hindering their ability to compete in global markets and create sustainable livelihoods. TUNL tackles this challenge head-on, providing transparent and competitive rates that empower merchants to convert more sales internationally.
TUNL’s impact is undeniable. Since its launch, the platform has witnessed a remarkable 35% monthly growth, boasting over 700 merchants who have shipped more than 11,000 international parcels in 2023 alone. This translates to over R24 million worth of exports from South Africa, a testament to the platform’s potential to boost local economies.
TUNL prioritizes transparency and ease of use for its merchants. Its unique AI-driven product classification system enables full landed cost pricing – a first in South African e-commerce – offering predictable and transparent shipping costs with duties and taxes pre-paid. This eliminates hidden fees and empowers merchants to plan their finances and pricing strategies effectively.
The $1 million pre-seed funding will fuel TUNL’s expansion beyond its South African beachhead. The company plans to enter strategic African and emerging markets, providing its cost-saving shipping solutions to even more SMEs across the continent.
What they said;
- Matthew Davey, TUNL Co-founder: “We are thrilled to have the support of such esteemed investors who share our vision of democratizing cross-border trade for African businesses. This funding will be instrumental in our journey to empower SMEs across the continent.”
- Craig Lowman, TUNL Co-founder: “Our mission is simple – to make international shipping accessible and affordable for every business. Our transparent pricing and innovative solutions are paving the way for a future where African SMEs can thrive in the global marketplace.”