Yakit, Inc.

Yakit, Inc. is a logistics technology company that specializes in cross-border shipping solutions for e-commerce businesses, enhancing order management and shipping efficiency through its innovative platform. Founded in 2014 in Sunnyvale, US, Yakit, Inc. focuses on providing technology-driven cross-border shipping solutions.

The company was founded by Stefan Altorfer and is currently led by CEO Jaggi Ayyangar. Yakit raised seed funding from Accel in June 2014, serving as the investment target in this deal. Yakit specializes in providing a comprehensive platform for cross-border shipping solutions, primarily for e-commerce businesses on platforms like Shopify and Etsy. Their core offering, the Yakit App, integrates with these platforms to enable real-time quoting for shipping, duties, and taxes directly in the shopping cart.

This allows merchants to streamline their order management, including order pulling, editing, and printing shipping labels effortlessly. Their solutions cater to a diverse range of clients, particularly small to medium-sized enterprises engaged in international sales, ensuring efficient logistics across global markets. Yakit generates revenue through a transaction-based model while clients utilize the Yakit App for cross-border shipping needs. Clients typically operate on a subscription basis, gaining access to features like automated duty and tax calculations, tracking, and analytics.

Their pricing structure may vary based on shipment volume or the number of stores connected, supporting scalability as businesses expand. The app enhances customer satisfaction by providing transparent cost information at checkout, thereby minimizing cart abandonment due to unexpected costs. Yakit plans to leverage its recent seed funding to enhance its product features and expand its market presence. They are currently designing new functionalities for the Yakit App that are expected to be launched in the upcoming year.

Furthermore, the company aims to expand into new geographic regions, with a focus on Asian and European markets by the end of 2024. This strategy will enable them to tap into a broader audience of e-commerce businesses looking for reliable shipping solutions, further solidifying their position in the logistics sector.