Authorization

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.
The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.
Since its launch in Lagos in 2017, Kobo360 has continued to grow its product offerings, VC backing and  customer base. The startup claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.
In addition to customer focus, founders Ife Oyedele II and Obi Ozor have prioritized serving the startup’s drivers. They offer the company’s app in languages common to drivers, such as Hausa and Pidgin. 
Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Kobo360 also launched its own driver working capital finance program, KoPay, KoboSafe insurance product and KoboCare: a suite of driver services from HMO packages to family tuition assistance.
The startup is part of a growing e-logistics and transport space in Africa linking on-demand apps to mobile-based connectivity to move people and goods around the continent more effectively.
In the ride-hail space, global players such as Uber and Bolt are competing with each other and homegrown startups to digitize and capture revenues in the continent’s auto and motorcycle taxi markets.

Africa’s ride-hail markets are hot spots for startups and VC
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Август 2019    »
ПнВтСрЧтПтСбВс
 1234
567891011
12131415161718
19202122232425
262728293031