Investment holding company African Rainbow Capital (ARC), founded and majority owned by billionaire Dr Patrice Motsepe, has made an additional investment in technology-led trucking business, Linebooker.<\/p>\n
Linebooker is majority owned by GemCap, which in turn is owned by ARC.<\/p>\n
The company uses platform principals similar to those of the e-hailing ride service Uber. In less than 30 minutes, Linebooker connects customers with multiple pre-approved transporters, confirming availability and best price for moving freight.<\/p>\n
“The business has become Southern Africa\u2019s first and largest transport platform, with further growth opportunities on the rest of the African continent on the horizon,” ARC said in a statement.<\/p>\n
Typical clients include blue-chip companies, mining companies, mega farmers as well as a range of other large and small businesses, it said.<\/p>\n
The company handles all insurance, administration, payment and execution, from pick-up to delivery, for clients.<\/p>\n
Together with GemCap as well as initial investors Venturen and the founding Linebooker management team, the parties have just completed a second-round investment in Linebooker. The new investment in Linebooker will support its growth ambitions over the short to medium term.<\/p>\n
The additional investment was made to meet the rapidly increasing customer demand from various sectors and geographical regions, ARC said.<\/p>\n
“We continue to see exciting business and investment opportunities in Africa,” said Motsepe.<\/p>\n
“These opportunities will increase significantly and create a competitive continental and global market with the commencement of the African Continental Free Trade Area next year. We are investing in a disruptive solution that is fundamentally changing the transport industry.<\/p>\n
“This industry will never be the same and now offers a new system that provides great value to all players.”<\/p>\n