Logistics is often overlooked as an impact opportunity, but it’s critical for rural producers and small business to succeed.
In Latin America, logistics costs can reach 40% of product value for small businesses, five times the level in OECD countries.
Colombia-based LiftIt’s technology helps small-business owners manage cargo shipments by tapping a network of 500,000 independent truck drivers.
The firm says it boosts the incomes of drivers, while providing quick quotes, shipment tracking, insurance, and same-day delivery for companies. The size of Mercy Corps Social Venture Fund’s seed investment in the company was not disclosed.
The fund has also backed Agruppa, a Colombian agricultural supply-chain venture.