TUNLa parcel shipping platform that saves e-commerce merchants between 50 and 80% on international shipping costs, secured $1 million in pre-seed funding from Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels.
The funding will be used to accelerate the company’s growth in its onshore market in South Africa and begin growing with a view to launching into other strategic African and emerging markets.
By The Numbers
- Since its inception, TUNL has increased by 35% month on monthwith over 700 merchants now part of its “shipping club”, with the number of merchants to double in the third quarter of 2023. T
- UNL traders have shipped more than 11,000 international parcels in 2023, representing more than R24 million worth of exports from South Africa.
About TUNL
TUNL was founded in 2022 by Matthew Davy and Craig Lowman. The team is driven by the core belief that opening up cross-border trade is the most powerful lever to unlock the enormous growth potential of thousands of SMEs in emerging markets, creating sustainable livelihoods and bringing in foreign currency.
Merchants who ship with TUNL can drive significantly higher checkout conversions in overseas markets where low shipping costs are expected.
What they say
“Our pricing is completely transparent and democratized. We want to ensure that every business, big or small, can have an equal opportunity to convert overseas sales by reducing shipping costs as much as possiblesays Lowman.
“We are thrilled to be working with this fantastic group of investors who share our vision,” says Davey. “Their pan-African experience will continue to be a huge boost to TUNL as we scaleadds Lowman.
As part of TUNL’s drive towards price transparency, it has recently launched AI-based product classification, which forms the basis for full land cost pricing (parcel delivery with duty and taxes prepaid) – a first-of-its-kind service for South Africa ELECTRONIC COMMERCE.
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