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§ For investorsVol. 05 / 05

Infrastructure-grade logistics. InPost model.

Relayed is the parcel-station network underneath a region's delivery ecosystem. One shared layer across merchants, couriers, and delivery companies. Carrier-neutral by design. Revenue from day one via the trunk-haul.

§ At a glance01 / HEADLINE
/ 01Stations mapped
43

24 Accra · 11 Kumasi · 7 N6 highway corridor

/ 02Revenue streams
4

Scan · Trunk-haul · Full-service · Staging

/ 03Cities · phase 1
2

Accra · Kumasi

/ 04Corridor
250km

Accra ⟷ Kumasi · daily tracked van

/ 05Validation interviews
8

3 delivery cos · 4 merchants · 2 couriers

/ 06InPost reference
90K+

Parcel stations across 9 European countries · €8B+ market cap

§ Four revenue streams02 / MODELS

One station network. Four ways to earn. Trunk-haul revenue starts day one; the other three unlock as station density comes online. Full unit-economics and margin stack are in the pitch deck.

M1 · Phase 2Infrastructure margin · 97%

Scan Fees

Delivery companies use stations as a shared pickup/drop-off layer. Near-zero variable cost — cellular + power only.

Signal

Multiple delivery operators report 10–50% of parcels rejected for lack of zone coverage.

M2 · Phase 2Service margin

Full-Service

Merchants without couriers pay one price. Relayed dispatches couriers, handles pickup, relay, and last-mile door delivery.

Signal

4 of 4 interviewed merchants confirm customers cancel weekly over delivery price.

M3 · Day oneOperating margin

Trunk-Haul

Two dedicated parcel vans. One departs each terminal every morning. 100% parcel capacity. Replaces the passenger-bus cargo hold.

Signal

6 of 6 respondents confirm inter-city depends on the bus today. Not one is satisfied.

M4 · Phase 2Variable · mix-dependent

COD Staging

Failed cash-on-delivery drops re-route into the station instead of back to a warehouse. Same-day rescue; next-day redelivery from nearby.

Signal

70–80% of regional e-commerce is cash-on-delivery (industry consensus).

§ Why now03 / TIMING
01

Mobile money reached critical mass

60%+ of adults in Ghana use mobile money. Payments happen at a station, on a phone, between strangers — no bank account, no card.

02

Smartphones reached the couriers

Every motorcycle courier carries an entry-level Android with Google Maps. Tracking, scan-in/scan-out, route assignment — on hardware they already own.

03

E-commerce growing double-digit annually

Ghana e-commerce projected at US$1.65B in 2025 (Statista). Africa last-mile forecast at ~US$3B by 2033. More parcels every month. The passenger bus can't absorb this growth.

§ Reference model04 / INPOST

InPost operates 90,000+ parcel stations across Europe. They proved out-of-home delivery reduces last-mile costs by 80%. Relayed brings that shape to West Africa — with a courier dispatch layer for markets where motorcycle delivery is standard. Operating and capital metrics are in the pitch deck.

Dimension
InPost
Relayed
Market cap
€8B+
Seed-stage
Revenue
$3.5B (TTM Q3 2025)
Day-one revenue · trunk-haul
Stations
90,000+
43 mapped · phase 1
Geographies
9 countries
West Africa playbook
§ What we validated05 / SIGNAL

8 interviews across three delivery companies, four merchants, and two couriers. Consistent signal across every audience. Named interview transcripts available on request under NDA.

  • 6/6
    Respondents confirmed inter-city delivery depends entirely on the bus. Not one was satisfied.
    Delivery cos · merchants · couriers
  • 4/4
    Merchants confirmed customers cancel weekly over delivery price.
    Merchants interviewed
  • 2/2
    Couriers confirmed ~50% empty returns on their current work.
    Independent couriers
  • 1
    Interviewed delivery company has a standing pool of unassigned parcels every day — demand they can't fulfil.
    Delivery company, 400+ deliveries/day
§ Get in touch

See the full deck and the numbers behind the plan.