Pomona Impact Invests in Teclogi
Pomona Impact has invested $1,500,000 of venture debt to Teclogi, a Colombian logistics company that has developed a platform to digitize the end-to-end logistics process and a marketplace that connects cargo with independent truck drivers. After starting operations in 2020, Teclogi has proven impressive growth led by a team with deep knowledge of the logistic and tech sectors.
Teclogi’s tech-based solution reduces wait times between hauls and eliminates middlemen for drivers, ultimately increasing their revenues. At the same time, B2B clients gain a clear understanding of the status of their cargo thanks to real time tracking; they also experience faster deliveries, increased security and lower overall costs due to reduced pick-up times thanks to the platform’s route optimizations and digital controls. The logistics sector has traditionally been largely informal and inefficient, with entrenched middlemen that control routes and major logistical hubs, but Teclogi has developed a successful model to increase transparency and organization in this space.
The company has already overcome major challenges – starting with the COVID-19 pandemic during their first full year of operations when the company added last-mile deliveries to transport essential products to individual households. During 2021, the company grew by more than 4x in sales by transitioning their main business line to long-haul deliveries, building relationships and gaining the trust of large corporate clients such as Samsung, Henkel, Ab Inbev, Diageo, Nowports, Geodis, General Motors, Mabe and Mexichem, among others. Over the past 18 months, Teclogi has secured long-term contracts with major corporate clients in Colombia, creating a solid foundation to scale further and becoming a recognized, reliable, and key logistics partner for Colombian Multinational and Transnational corporations.
Humberto Coronado, CEO and Co-founder of Teclogi said, “We are very pleased to have reached this agreement with Pomona; since the beginning of the investment process with them, we were aligned not only around the interest of scaling the business in Colombia and LatAm, but also around the social and environmental impact that we want to generate, through the deployment of a Shared Value concept. Now with Pomona plus other investments in equity, we will be able to scale much faster, meet our added demand in our Logtech businesses, open new offices in Colombia, and launch our Fintech line that will continue to generate value for our company and our drivers!”
Daniel Granada, Partner of Pomona Impact, said “We were very impressed by Teclogi’s growth, operational capacities, and their ability to quickly adapt to market needs during economically tough times. We firmly believe that Teclogi’s model, marrying technology with old fashioned logistical know-how, will revolutionize the logistics space in Colombia and we are excited to work with them as they expand throughout Latin America over time.”
Teclogi is also generating positive social and environmental impacts – in terms of gender inclusion, women compose 50% of their management team and women make up 46% of their employee base as well, a rarity in the logistics sector. From an environmental perspective, they are currently using electric motorcycles and 5 tonne trucks for short and long-haul deliveries in specific urban routes – usage of these vehicles is expected to grow over time, helping reduce CO2 released into the environment.
About Pomona Impact
Pomona Impact Fund II, LP (“Fund II”) invests in Small Growing Businesses (SGBs) across Central America, Mexico, Colombia, and Ecuador in Agriculture, Basic Goods & Services (Access to Energy, Water, Education, Health, and Housing), and the Digital Economy to profitably scale their impact. The Fund has a target size of $30 million and is currently looking for new investment opportunities in the region. For businesses interested in pursuing an investment from Pomona Impact Fund II, please apply here.