CloudFret

About CloudFret

CloudFret is a logistics company that operates a digital freight marketplace connecting shippers with a network of carriers, primarily focused on the transport routes between Europe and Africa. The company was founded in 2021 by Driss Jabar, who drew upon his background in supply chain strategy and digital transformation to address a significant inefficiency he observed in the industry: trucks frequently returning empty after making a delivery. Jabar, who previously sold a startup in the mobility sector, identified that many small, family-owned transport companies lacked the resources to find return loads, resulting in lost revenue and increased environmental impact.

The core of CloudFret's operation is a B2B Software as a Service (SaaS) platform that uses artificial intelligence to match empty trucks with available cargo. This model aims to reduce empty-truck mileage, optimizing costs for shippers and increasing profitability for carriers. The platform serves a client base of shippers and freight forwarders by providing a tool to book trucks and get quotes, while carriers can find loads, manage their fleet's availability, and reduce empty returns. Revenue is generated through a commission on each transaction facilitated through the marketplace. To further support its carrier partners, CloudFret has expanded its services to include FastPay for quicker payment after delivery, discounted fuel cards with deferred payment options, and competitive cargo insurance.

Since its launch, the company has established operations in six countries: France, Spain, Morocco, Senegal, Portugal, and Italy. It has secured a total of $3.53 million in funding over three seed rounds, with investors including AfriMobility, Azur Innovation Fund, and Plug and Play Tech Center. A significant funding round in November 2023 raised $2.1 million, aimed at enhancing its solution for optimizing empty truck returns within the intra-European market and doubling its workforce. The platform provides real-time tracking of shipments and allows carriers to publish their truck availability directly, creating a more dynamic and efficient communication channel with shippers.