South African e-commerce shipping platform TUNL has secured a $1 million pre-seed funding boost to accelerate its ambitious growth plans. Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels are investing in the rising star, fueling its expansion within South Africa and paving the way for future ventures across strategic African and emerging markets.
Turbocharged Growth: Reaching New Heights
Since its 2022 launch, TUNL has been on a supersonic trajectory. Its “shipping club” of merchants has skyrocketed, doubling in Q3 2023 to reach over 550 members. This translates to a remarkable month-on-month growth of 35% and over 8,000 international parcels shipped by TUNL merchants in 2023 alone. These parcels represent a significant R19.5 million in exports from South Africa, showcasing the platform’s transformative impact on SME trade.
A Mission to Empower: Unlocking Potential Across Borders
TUNL’s founders, Matthew Davey and Craig Lowman, are driven by a powerful vision: to fuel the growth of African SMEs by simplifying cross-border trade. They believe that open international markets hold the key to unlocking massive potential for thousands of businesses, driving sustainable livelihoods and boosting foreign currency inflow.
Conversion Champions: Supercharging Overseas Sales
TUNL empowers its merchants to conquer international customer conversion by offering exceptional transparency and affordability. By slashing shipping costs and presenting clear, upfront pricing, they level the playing field for businesses of all sizes. “We want every company, big or small, to have an equal chance at winning overseas sales through accessible shipping,” emphasizes Lowman.
Demystifying Delivery: Pioneering AI-Powered Pricing
Committed to transparency, TUNL recently launched an industry-first service in South Africa: AI-driven product classification for full landed cost pricing. This innovative feature breaks down all costs associated with parcel delivery, including duties and taxes, giving merchants clear and predictable pricing for international shipments.
Excited for the Future: Investing in Pan-African Success
TUNL’s founders couldn’t be more thrilled about their new investor team. “We’re excited to partner with these incredible investors who share our vision,” says Davey. “Their extensive pan-African experience will be invaluable as we scale TUNL across the continent,” adds Lowman.
The future looks bright for TUNL. With its impressive growth, strong mission, and strategic partnerships, this groundbreaking platform is poised to revolutionize cross-border trade in Africa, empowering SMEs and opening doors to global markets.
