58. Papaya Technologies – electrifying fleets and profits

Founders: Santi Ureta and Renato Serra
Year founded: 2022
Website: papayadash.com

During his career as a Product Manager at grocery delivery startup Dija, Santi Ureta found his workload chaotic, to say the least. The startup (since acquired by GoPuff) had 4,500 electric vehicles (EVs) in three countries and was using many different service providers. 

It’s a story that companies in the logistics sector will be able to empathise with. Particularly with the number of delivery riders increasing (TfL estimates that up to 40,000 currently operate in London) maintenance, leasing, and repairs are overwhelming fleet managers.

Ureta and his cofounder Renato Serra made it their mission to support this critical industry, by creating a unified platform for simplified fleet management. 

Papaya’s platform is all about helping fleet managers to connect with service providers to optimise profitability and build partnerships across different regions. While previously, riders would have had to connect with local repair services, Papaya’s marketplace-esque solution allows customers to access new partners and tools when and where they need.

This centralised hub also exists to give users better visibility into wider business operations such as work orders, invoicing, and asset management. 

And, by offering a range of vehicles from cargo bikes to e-vans, Papaya considers itself part of the electrification revolution. In fact, by 2035, the business is projected to enable the electrification of 3.8 million vehicles, with the potential to abate 3.3 Mt CO2e annually.

As well as securing funds from many different investors, the judges were particularly impressed with Papaya’s partnerships, including brands like Mubea, Cooltra and Vok Bikes.

With ecommerce orders accelerating and increasing demand for fast delivery services, delivery-related traffic emissions are predicted to surge by 32% globally by 2030. 

Thankfully Papaya is behind the steering wheel for eco-friendly transportation, driving towards becoming the world’s largest ecosystem for sustainable fleets.