Kargo receives loan support from Yoma Bank

Myanmar-based logistics firm Kargo, an online platform that connects truck owners with businesses and individuals, has received USD$ 130,000 as loan support from Yoma Bank’s unsecured SME financing scheme. It aims to make same-day payments to the truck driver partners of Kargo and grow the company’s customer base and manage all invoices. Kargo was established in 2016 and now there are over 1,300 drivers on its platform. Previously, Kargo raised a six-digit dollar grant support from the GSMA Ecosystem Accelerator Innovation Fund. Prior to that, it raised a six-digit investment from Singapore-based Vulpes Investment Management in 2017. Singapore’s Cocoon Capital is also an investor in Kargo.

Reference- Deal Street Asia