binY.co — a startup that simplifies freight transportation for shippers and drivers

Altynay Khassenova, city — Astana, COO of binY.co, Instagram

How it all began

The idea for creating the product belongs to my husband, Asset Khassenov. After studying in Europe, where he completed his master’s degree in Berlin, while I continued my doctoral studies in world economics, we returned to Kazakhstan because Asset was offered a job at the National Company. After working there for two years and achieving certain results, Asset decided to start his own family business in the logistics sector. This choice was not accidental: inspired by Germany’s logistics system, we discussed delivery speeds, current trends, and the potential of the logistics industry in Kazakhstan extensively. Moreover, my doctoral dissertation focused on logistics and Kazakhstan’s potential as an Eurasian transcontinental bridge, so we confidently viewed this area as promising.

In the first two years, we were a classic transportation company providing courier services, as well as intercity and international freight transport. Things were going well, and the team was growing. Then, my husband had the idea to digitize the work of a classic logistics manager, which included selecting transport, verifying executors, managing documentation, and tracking vehicles. We assembled a development team and began working on the project. In the first year, we funded the product from our own resources, and later attracted investments. Today, we are three years old, and we have announced the next round of fundraising.

Target Audience

Our target audience includes large manufacturers, distributors, and small and medium-sized enterprises — anyone who needs to send a cargo load via a truck. The product is a platform for shippers where they can submit a request, which, after moderation, goes into the driver’s app — Biny Driver. Currently, we have more than 3,000 verified long-haul truck drivers who have passed an eight-step verification process and work through the app. Among our clients are companies such as QazPost, Coca-Cola, Gorilla Asia, Zeta Trade, and many others involved in freight transportation.

Incubation Programs

At present, we are participating in the Google for Startups — Silkway Accelerator, and we have entered the top 3 startups of the program. The accelerator takes place at Astana Hub, and 13 startups from all over Central Asia are working with us. Participation in such programs is both interesting and beneficial.

Challenges

As one respected venture investor said: “Building a startup is the most difficult thing.” It is a daily struggle for the product’s survival, constant testing of hypotheses, and risks. Because, as a rule, a startup must solve a pain point and/or change the rules of the game, and people often resist everything new, preferring to work in the old way.

At the beginning, we faced objections from logistics managers because our platform allows drivers to work directly and withdraw money after completing an order without intermediaries. We constantly train our partners and their teams in new working methods, as well as address drivers’ objections. There are drivers who gladly download the app, book orders, and quickly master it, expressing gratitude for our product. However, there are also those who resist change and are afraid to register. But after successfully completing their first order, they become loyal users.

The most important thing in a startup is the team that believes in the product, comes to work with burning eyes, and solves various cases, improving the product daily. It is also important to be stress-resistant, believe in growth, constantly work on scaling the product, quickly conduct post-mortems, and test hypotheses.

Achievements

We became a top startup based on the results of the acceleration period. We also strive to build long-term and trusting relationships with our partners. Together, relying on their feedback, we improve the product daily.

Plans

We plan to enter the markets of Uzbekistan, Kyrgyzstan, and Turkey by the end of the year. We also intend to capture up to 18% of the Central Asian market share within the next six years.