Case Studies
We work with founders solving the most meaningful problems on the African continent. Our boutique is helping tech-enabled ventures build the foundation upon which Africa's new economies will be built.
Case Studies
Case Studies
Services: Co. Deck Lab, Co. Data Room, Matchmaking
DRIVING VALUE
Headquartered in Nairobi, Kenya, Amitruck is a digital marketplace for deliveries. The company connects cargo owners directly with transporters in Kenya, Rwanda, Tanzania, and Uganda in an efficient, transparent, and fair manner.
In 2019, Amitruck’s Founder & CEO Mark Mwangi was referred to us by a partner. Our initial goal was to grow Amitruck’s fundraising footprint through qualified introductions to aligned investors during an upcoming pre-seed round.
Founders have been known to drop everything to close a funding round. To take some of the weight off the shoulders of Mark’s new team, AFI remained on hand to optimise Amitruck’s investor materials before we started making introductions to early-stage investors.
At the onset of the pandemic, Amitruck’s priorities shifted from fundraising to operations. Despite the unprecedented, rapidly-changing market environment, the challenges created an opportunity for Amitruck to create significant value in a market traditionally dominated by third-party brokers. Across the initial 12 months of COVID, Mark and his team drove revenue growth of more than 300%, paving the way for Amitruck’s eventual $5M raise and further expansion into East Africa.
“Early on, I saw an opportunity to build the investment case for Amitruck – primarily to investors that were unaware of this unique opportunity.” Gbenga Odimayo
DELIVERING VALUE
Soon, gaining investor visibility was no longer Amitruck’s main pain point; Mark was setting his sights on product-market fit.
In late 2021, preparation for Amitruck's seed round would see AFI in an even better position to provide value-added services. This enabled us to support Amitruck's growing value proposition within a $200B continental logistics market.
Practically, the size of the task meant remaining responsive to Mark and the feedback loop between his investors, board, and team. Close communication enabled us to curate strategy, content, copy, and design across a seed-stage pitch deck.
Next, our Data Room proved to be the more hands-on deliverable, requiring outreach to Amitruck’s key internal and external partners. Amitruck had a compelling case for investment, but AFI’s bespoke due diligence checklist and Data Room proved critical in building the trust and transparency investors need to secure a deal.
The result? An oversubscribed $4M seed round that reverberated across Africa’s tech ecosystem. While AFI’s technical support offered further "proof" for Amitruck’s investor network, it validated our enabling role in helping startups on their path to scale.
"Looking back to 2019, I am encouraged that Amitruck has illustrated the life-time value and potential of an AFI client, noting the calibre of, investors, accelerators, team etc. on Amitruck’s journey. More importantly, I'm thrilled for Mark and the team as they move onwards and upwards on the path to scaling their unique offering.” Gbenga Odimayo
TESTIMONIALS
CO. Deck Lab
RK, Co-Founder& CEO, CleanTech
“From our very first call, Gbenga had grasped what our requirement was, what followed was the most structured and meticulous approach to the task at hand and one that involved us really digging deep into our vision and mission, with a clear schedule involving all parties involved, resulting in a pitch deck which emulates our story concisely."
CO. Deck Lab
MO, Co-Founder & CEO, EdTech
“Strong professionalism. Added tremendous value, being an interpreter between us and the graphic. Command of the language was impressive, while the ability to weave in storytelling was very good.”
CO. DATA ROOM
MM Founder & CEO, Logistics
“We needed to ensure our data room was professionally done and that absolute transparency for our potential investors was upheld and initial trust and credibility established. Gbenga at AFI did an amazing job ensuring this was the case, I cannot recommend him enough.”
CO. DECK LAB
PD Founder & CEO, EdTech
“Gbenga impressed me with his professionalism, communication, high quality of work, and adherence to timelines. He was able to take on a herculean task with short notice and develop a finished product that exceeded all expectations. Gbenga impressed me with his understanding and creativity. He is a true wordsmith and was able to translate my vision into a beautiful finished product. I could not have been happier with our interaction and the outcome of the project. I would highly recommend his services without reservation, he will not disappoint.“
CO. DECK LAB
MT, Co-Founder & CEO FinTech
"AFI’S Pre-Investment Technical Support has been a great value-add, both to our startup and to me personally. I highly recommend and look forward to keeping the collaboration going even beyond investor readiness."
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