Mercy Corps Social Venture Fund made an undisclosed investment in LiftIt, a Colombian logistics platform.
(Mercy Corps) Mercy Corps Social Venture Fund backs LiftIt logistics platform in Colombia
In Latam, logistics costs range from 18 to 35 percent of product value — and even higher for SMEs at about 40 percent — compared to benchmarks of around 8 percent of product value in OECD countries. Colombia-based LiftIt is a platform that makes it simple to schedule cargo shipments of all sizes throughout the country. It provides quick and transparent quotations, shipment tracking, full-value insurance, and guaranteed same-day delivery.
Leveraging Colombia’s existing network of 500,000+ registered, independent truck drivers, LiftIt endeavors to both increase the incomes of drivers and improve logistics services for companies. Logistics is often overlooked for impact investment, but it critical to building an ecosystem that allows rural producers and SMEs to thrive.
“We’re on a mission to provide technology driven and affordable last-mile cargo transportation throughout all of Colombia,” said Brian York, co-founder and CEO of LiftIt. “With Mercy Corps experience in rural logistics they greatly help us with our strategy and obtaining customers with rural farms, coops and associations.”
Mercy Corps Social Venture Fund closed an undisclosed investment in the company’s ongoing seed round.
For more information, please contact Timothy Rann (Partner, Social Venture Fund).
