Nigeria’s premier bus-hailing app Plentywaka secured US$300,000 in pre-seed investment. The funding round was led by EMFATO, Niche Capital, and Microtraction to help its expansion in Abuja, and other Nigerian states.
The funding will revamp it’s Nigeria’s transport system and improve its mapping technology as it expands to other states. Very few firms are expanding during the pandemic, an indication of strong growth prospects for the company.
Launched in 2019, Plentywaka has since grown its user base to over 40,000 customers, even accomplishing over 100,000 rides in only six months. At launch, the company was financially backed by Crowdyvest at a time when Uber and OBus were the main competitors.
The company recently announced same-day delivery services targeted at small businesses. This applies to logistical services and staff bus solutions.
Plentywaka is currently looking for vehicles that are willing to join the Plentywaka Vehicle Partnership scheme. The partnership will involve a broad coalition of individuals, corporations, and state governments. Registering vehicles on the platform ensures their partners can earn extra.