缅甸第一个在线商品运输服务商 Kargo从YOMA银行获得超过130,000美元投资，KARGO – MYANMAR’S FIRST ONLINE GOODS TRANSPORTATION SERVICE – RECEIVES OVER US$130,000 FROM YOMA BANK

Kargo has announced that it has inked an SME financing agreement with Yoma Bank, Myanmar’s largest commercial bank, on 11 March 2019. Under the agreement, Kargo will receive an initial loan of approximately US$130,000. Through the bank’s Unsecured SME Financing, Kargo is now be able to facilitate same-day payments to its truck drivers, boost its ability to further grow its customer base and manage all invoices.

Founded in 2016, Kargo is Myanmar’s leading and fastest-growing logistics and supply chain startup. Its service easily connects independent truck drivers, fleet owners, third-party logistics (3PL) companies and commercial logistics providers directly with businesses that require reliable, trackable distribution and delivery of their goods across the country. Since its establishment in 2016, the company has connected almost 2,000 truck drivers in Myanmar.

“When we first envisioned Kargo, we were starting out in an extremely fragmented market that had a very opaque pricing system,” said Alex Wicks, the Founder and CEO of Kargo.  “We have since made great strides in growing our driver network to nearly 2,000 independent truck drivers, fleet owners, 3PLs and commercial trucking companies – making our virtual fleet the largest in Myanmar and completing over 5,000 deliveries to date.”

“With Yoma Bank’s support we will be able to fuel our expansion, business growth and our drivers’ income; as we seek to realise our vision to provide quality trucking logistics solutions that are priced fairly for both the consumers and drivers,” he added.

Initially financed by Wicks, Kargo has continued to roll out its business with capital injected by angel investors and venture capital firms – such as Singapore-based SEED Myanmar during a seed round in 2017. The company also received a six-figure grant in February 2018 which the company has used to sustain the its rapid expansion.

Upon winning the Startup SG prize and winning the ‘Best Logistics and Supply Chain Startup’ at the Echelon Top 100 Start-up Competition, Kargo received a US$50,000 from the Singapore government. This was followed by the launch of Kargo’s Pre-Series A funding round to help fuel its growth in Myanmar. This move resulted in the firm raking in a seven-figure sum raised from Singapore’s ‘Cocoon Capital’ and another private venture capital firm.

Yoma Bank’s Unsecured SME Financing signifies the bank’s focus on supporting the growth of Myanmar’s SMEs; which typically faces the problem of cash flow management. Kargo is the first company that Yoma Bank has offered this loan to since the Central Bank of Myanmar approved the disbursement of unsecured lending.

“At Yoma Bank, we are committed to finding innovative ways of supporting Myanmar’s SMEs”, said the CEO of Yoma Bank, Hal Bosher. “Unsecured financing is solely based on the cash flow of the business and is a progressive way of supporting smaller enterprises. This financing is the first of many and we look forward to seeing innovative and tech-driven SMEs such as Kargo thrive in this market.”

About Kargo  

Kargo is the largest virtual truck fleet in Myanmar providing goods transportation for SME and corporate enterprise businesses moving their cargo anywhere in the country.  Kargo is the first online goods transportation service in Myanmar to easily connect independent truck drivers, fleet owners, 3PLs and commercial logistics providers directly with businesses needing reliable and trackable distribution and delivery of their goods across the country.

As a tech-based logistics provider in Myanmar, we calculate the prices based on the type of truck, volume and weight of goods, and pick up and drop off points. Kargo guarantees the best prices, full tracking of your goods and a dedicated and friendly service team for all your orders, logistics and business needs. Both business and individual clients can manage orders through their dedicated Kargo online account and dashboard, with features such as order batch upload, previous order copy, and real-time tracking.

For more information please visit: www.kargo.com.mm

Kargo Business App

Kargo’s business app is a mobile version of the Web App and the dedicated Kargo online account and dashboard. Businesses can seamlessly place new orders, see historical orders and manage their account all on the move on their mobile phone.

Download the app here at: https://play.google.com/store/apps/details?id=com.kargo.customer

Kargo Driver App

The Kargo Driver App lets independent truck drivers, fleet owners, 3PLs and commercial logistics providers receive more orders and income from these orders. Kargo provides stable, regular, long term orders for drivers directly to their mobile phone via the Kargo Driver App. Drivers can accept orders as they wish, communicate directly with the Kargo Fleet Support Team and with prompt payment allows greater financial flexibility for themselves and their families.

Download the app here at: https://play.google.com/store/apps/details?id=com.kargo.driver

About Yoma Bank

Founded in 1993, Yoma Bank is Myanmar’s most progressive domestic bank. Over the past few years, Yoma Bank has made significant investments in strategic priorities – people, technology and corporate governance.  Yoma Bank is Myanmar’s fifth largest bank by assets with 3000+ employees and 80 branches across the country. Yoma Bank was the International Finance Corporation’s (IFC) first direct investment in Myanmar in 2014 and it benefitted from a comprehensive 3-year advisory package to upgrade credit risk management, finance, treasury, product development and to procure a new core banking system (Misys Fusion Banking Essence).

Yoma Bank also receives ongoing technical assistance from GIZ, the German development agency, to improve and expand our SME lending. In 2015, Yoma Bank formed a strategic partnership with Telenor (Myanmar’s largest foreign Telco) to develop nationwide digital financial services through the formation of Wave Money, a mobile financial services company. Yoma Bank has benefitted from a significant grant from LIFT, a multi-donor, UNOPS administered trust fund, to expand agribusiness finance to Myanmar’s underserved agricultural community – a key segment in Myanmar’s development. Technical assistance for this program is provided by Rabo Bank, a Dutch agricultural bank. Yoma Bank is committed to financial inclusion in Myanmar.