Loop Freight: Revolutionising logistics, one truck at a time

With offices in Dhaka, Chattogram, Khulna and even Singapore and with their operations being spread across the country, Loop Freight is one of the fastest growing startups in Bangladesh. It is the first company ever to secure investment from Asian Development Bank in the country's history and they take care of logistical operations for giants such as LG, Pran, Kohinoor Chemicals, RAK ceramics, etc.

Their headquarter in Dhaka is located in a 4000 sq ft space in Banani and it feels like a proper startup office. You are immediately drawn to the good vibes and the overwhelming positivity when you enter the place. People playing Mortal Kombat on one side enjoying cricket on the other while working in between, a literal life-size model of freight in the middle of the office, it genuinely feels like an office straight out of television and in the heart of it all is Rajib Das, the charismatic CEO and co-founder of Loop Freight.

Rajib did not always dream of becoming a founder of a successful startup and upon meeting him that will not be your first impulse either. He is a music buff who loves playing the guitar, ukulele and keyboard. He is an excellent spin bowler who still practices his craft and a huge Messi fan. He loves reading and meditating.

"Growing up, I wanted to become an aeronautical engineer but that didn't work out, then I shifted my focus to cricket and then to becoming a musician", he confessed at the start of the interview.

Logistics was never the dream but to say that he was destined to start Loop Freight would not exactly be a complete stretch. Everything in Rajib's life was always leading him to it.

Rajib Das grew up in Dhaka and his family is in the textile business. So, from a very early age, he had a rough idea about the supply chain. He attended Scholastica School here before pursuing a degree in the subject from the University of British Columbia.

"I learned more about the complexity of supply chains in university, it is super foreign to most people. You can't see it but it's all around it keeps on capturing my intrigue more and more", he added.

After obtaining his degree, he joined the Port of Vancouver where he worked for one and a half years, got hands-on experience and gained insight into the various inefficiencies of the system. "I was surprised at how broken the system was. Even in a country like Canada. I came back to Bangladesh in 2014 and joined my father's textile business and saw that there were similar problems here", Rajib explained.

He noticed how businesses often had to resort to acquiring their own trucks because of high delivery charges. On top vendors would often create problems regarding deliveries.

He was able to identify some of the key problems with truck vendors that included a lack of transparency and visibility, which meant entrepreneurs could not track their shipments or verify if the drivers were being truthful about their locations. Rajib wanted to address these issues and ensure that businesses would not have to sell an arm or a leg to pay for deliveries. Thus, the idea of Loop Freight was born.

With Loop Freight, it is now easier than ever for businesses to deal with the process of moving goods. The name comes from the first two letters of the words "Logistic" and "Operations" respectively.

"The idea was to create a platform where everyone can be kept in the loop at all times" stated Rajib Das. He and his team leave no stones unturned in their bid to mitigate the problems Rajib discovered in the sector. "We are very selective about our vendors and we have very strict onboarding guidelines. I just imagine how I would like things to be as a customer and implement strategies accordingly. We work constantly with our vendors in the field and take steps to educate them on the importance of their work and the repercussions involved if they don't do it properly. The idea is to let them know that this is their business at the end of the day. The more efficient they are, the more trips they can make, and the more they can earn. They have the wheels and how they want to steer it is their choice", he elaborated.

Loop Freight is creating a name for itself and gaining more clients as the days go by. What's even more amazing is that they are doing so with minimal publicity and marketing. Around 40 percent of their new clients are referrals which speaks volumes about the difference they have made in the industry and the quality of their service.

With each milestone, Rajib and his team edge closer to his vision of turning Loop Freight into a 100-million-dollar business which was his initial vision, but his goals have become more profound with time.

"The aim is still to reach that vision but I am a bit more mature now. I have realised that numbers can't be the main motivation. The goal needs to be being able to address and solve real problems. Fix what's broken. The numbers will always follow. I want to make the logistic process as smooth as butter and there's still so much for us to do. We are just getting started!", Rajib exclaimed.

Loop Freight aims to make its operation more seamless and enhance the customer experience even further by eventually implementing a more data-driven approach in the future.

"We want to incorporate newer technology including IoT blockchains and different modalities of tracking to stop theft, especially in the RMG technology. We want to make the experience even better", Rajib Das revealed.

Loop Freight is also making headways off the field as well as on it by bringing about positive changes in Dhaka's work culture. The outlook of the office explained earlier is also an embodiment of the spirit of Rajib and his team members.

"I love working here, I love coming to the office. We have game nights, comedy nights, and movie nights. There's always something or the other happening. We work really hard towards our goal and have fun while doing it. People love working here. Our retention is in the high 90s, it's just amazing", stated Rajib in his concluding notes.

With so much positive energy and the determination to completely revamp a whole sector, we can expect even bigger things from Rajib Das and Loop Freight.