Emerging Capital Partners (ECP) has made an investment in Inter Africa Forex Transportation (IATF) to acquire a substantial stake in the fintech company. As part of the deal, ECP will get access to a financial services platform that cuts the cost of trucking in a market where a lack of transport and payment infrastructure makes logistics complicated and expensive.
Inter Africa Transport Forex began as a startup in Mauritius in 2007 and currently spans in 10 countries. It specializes in online fuel orders, cash pay-outs, road tolls, border payments and parking. IATF’s online platform centralizes payments and makes trip planning, cost control, and fleet management simpler and more efficient for its customers.
IATF reduces costs for its customers significantly through economies of scale and better cost control by providing an immediate overview of the costs required on all trips and offering real-time tracking and visibility facilities.
Companies use IATF’s ergonomic technology and extensive network to make a single electronic payment online for an entire trip. The platform is also supported by on-the-ground third-party agencies that can process payments where there is no data connectivity.
“We are delighted to partner with the team and founders of IATF to support their next phase of growth,” said Paul Maasdorp, CEO of ECP in Nairobi. “IATF has set up an innovative financial technology platform, tailor-made for the logistics industry, which offers substantial value to its transport customers.”
“We have already partnered with ECP for another investment and know the value they bring in terms of strategic vision, organizational development and sustainability, and geographical expansion,” said Carel van der Wath, chief technology officer and founder of IATF. “We are delighted to once again count them among our preferred partners to help us accelerate our growth.”
ECP has a 17-year track record in Africa, where the company has made more than 60 investments.
