Freterium, a Casablanca, Morocco-based transport management software provider, raised $4M in Seed funding.
The round was led by Partech, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures and business angels from the U.S., Europe, Asia and Africa.
The company intends to use the funds to invest in its tech and product development to fuel growth and serve more companies in Africa and the Middle East. They are planning to double the size of the team within the next 12 months. accelerate growth and expand operations, product and team.
Co-founded by Mehdi Cherif Alami, CEO, and Omar El Kouhene, CPO, Freterium provides a collaborative SaaS platform that connects organizations, people and technologies in the logistics value chain to help them move things.
Their product, a new-generation Transport Management Software, connects shippers with their entire logistics ecosystem to collaborate in real time, helping them cut time and shipping costs. It is aimed at any company that delivers products on a daily basis: manufacturers, distributors, retailers and logistics providers across industries can manage all of their shipments in a few clicks on Freterium´s interface.
The company currently has 20+ enterprise customers and more than 3,000 users of its software.
Launched in Morocco in 2020, the company has experienced fast growth in 2021 and has opened a new office in the UAE to address neighboring markets in the region.