TUNL, a South African shipping platform, has raised new funding to help small and medium businesses (SMEs) with marketing. The seed funding was led by E4E Africa, with other investors like Jonathan Smit, Jozi Angels, and Utopia Capital Management. This comes ten months after TUNL’s first funding round, which raised $1 million to help it grow in South Africa and expand into other African markets. The new money will help TUNL grow faster in South Africa, improve its product, and offer more marketing support to SMEs.
TUNL helps SMEs ship their products overseas by making shipping cheaper and easier. The platform can help businesses save 50% to 80% on shipping costs by using advanced technology and offering good customer service. This helps businesses focus on growing their customer base without worrying about high shipping costs.
Founded by Matthew Davey and Craig Lowman in 2021, TUNL solves the problem of high shipping costs and slow processes for small businesses. The platform uses AI to sort products, making it easier for businesses to handle taxes and duties. This helps them save time and money. Co-founder Craig Lowman said the goal is to make sure that businesses of all sizes have a fair chance to sell their products overseas by making shipping cheaper and simpler.
Since their last funding in 2023, TUNL has grown a lot. They now help over 1,350 SMEs save on shipping costs. The platform has worked with South African brands like Versus Socks and Bambalam. Versus Socks saved 30% on their shipping costs, and Bambalam grew their sales by ten times in just one year by focusing on international customers.
Investors are excited about TUNL’s growth. Sam Sturm, Co-founder of 54 Collective, who invested early in TUNL, said the problems TUNL is solving in South Africa are similar to problems faced by businesses around the world. E4E Africa’s Tatenda Nyamuda also praised TUNL, saying the platform helps eCommerce businesses in Africa reach new markets by lowering shipping costs and making it easier for them to sell products abroad. Both investors believe the funding will help TUNL grow and improve the success of SMEs in Africa while creating more jobs.
With this new funding, TUNL plans to keep helping African SMEs. By making international shipping more affordable and easier, TUNL will help businesses expand beyond their local markets and compete globally. The company’s efforts are expected to lead to more growth, both for TUNL and the businesses it supports.
