May 4, 2022
Jetstream Global, Inc. (“Jetstream”), a technology-enabled logistics company focusing on cross-border trade has entered into a senior secured credit facility with Cauris, Inc. (“Cauris”). Cauris is a global private credit investment firm that promotes financial inclusion in emerging markets. The investment is Cauris’ second in Ghana.
Website
Geography
Ghana, Nigeria
Description
Founded in 2019 in Ghana, Jetstream is a cross-border logistics technology company targeting credit-worthy African importers, exporters and freight forwarders. The company’s mission is to leverage technology to enable African businesses — in some of the fastest growing economies in the world — to grow their cross-border supply chains.
West Africa has a deep market of credit-worthy importers, exporters and freight forwarders that lack access to timely working capital finance. Banks have often avoided this type of lending because they do not have the credit history information or digital infrastructure to process transactions as quickly as required by the market. Given this low penetration of working capital solutions, Jetstream, in support of its core logistics business, extends financing to help scale customer volumes through:
- Customs Duty financing — for importers seeking an advance on duties and other documented government fees in order to get cargo released quickly;
- Carrier and Terminal Fees financing — local charges and other fees from shipping lines, airlines and terminals;
- Freight financing — carrier’s invoice for ocean freight, airfreight or ground transport related to current or upcoming shipments; and
- Goods financing — for importers and exporters looking to pre-finance production or the cost of goods in key trade corridors.
“Our goal is to grow African supply chains. Providing access to fast, affordable trade finance–backed by Cauris and in partnership with local banks–catalyzes that growth. We’ve seen our customers use our financing to increase their turnover, avoid shipment penalties, and get their products to market faster,” said Miishe Addy, co-founder and CEO of Jetstream.
“Trade is key to Africa’s continued growth, and importing and exporting is often the lifeblood of healthy African economies. We’re excited to provide financing to Jetstream to help them further enable the flow of vital goods in and out of Africa,” said Azer Songnaba, Chief Investment Officer of Cauris.
About Jetstream
Founded in 2019 in Ghana, Jetstream is a cross-border logistics technology company for African importers, exporters and freight forwarders. The company’s mission is to leverage technology to enable African businesses — in some of the fastest growing economies in the world — to grow their cross-border supply chains. For more information, please visit https://jetstreamafrica.com/.
About Cauris
Cauris is a mission-driven investment firm that provides private credit to financial technology companies in emerging markets. Working across the Global South — with financings in Africa, Asia and Latin America — Cauris partners with fintechs that are making financial inclusion a reality for tens of millions of consumers and small businesses. Through debt investments, Cauris enables its partners to scale efforts that provide the traditionally underbanked access to financial services that improve their lives and livelihoods. Cauris aims to facilitate efforts that extend financial services to 100M people in line with its mission to empower individuals and small businesses through access to credit; to enable economic growth in emerging markets; and to accelerate the growth of the global middle class. For more information, please visit www.caurisfinance.com.
