Mobility startup Plentywaka announces change of name to Treepz

NIGERIA – Plentywaka, a mobility startup has announced, its change of name to Treepz as it seeks to align the company name with its Pan-African expansion plan. According to the startup, the change of name would take effect immediately as it better represents the company’s vision of building the largest shared mobility platform across Africa. “This name change is a result of in-depth discussions with our stakeholders, partners and staff. After we discovered that the term “WAKA” can mean different things across Africa, which may be completely different from travel…

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Bus-hailing startup SWVL raises US$35m pre-funding to accelerate its expansion

EGYPT – Swvl, an Egyptian bus-hailing startup, has achieved pre-funding of the total PIPE subscription of US$35.5 million, to accelerate Swvl’s expansion and increase its investment in its patented technological platform. The purchase has been pre-funded by a number of investors, including Agility and Chimera Abu Dhabi. Swvl’s proposed business merger with Queens Gambit Growth Capital is the reason for the subscription. Swvl has set a goal of generating US$1 billion in yearly gross revenue and expanding to more than 30 cities in more than 20 countries by 2025. According…

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Mobility startup Kai Senegal secures seed investment from Mobility 54 Investment

SENEGAL – YEEG SAS, a company that operates ride-hailing startup Kai Senegal, has secured a seed investment from Mobility 54 Investment SAS, the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS. The Toyota Tsusho/CFAO collaboration hopes to assist local inventive solutions to the many difficulties that public transportation in West African countries faces, such as poor service quality, insecurity, and traffic congestion, through Mobility 54’s participation. Kai’s novel business strategy will enable Toyota Tsusho to serve a new type of customer and provide all of its expertise…

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Mobility startup Plentywaka raises US$1.2m seed round, acquires Ghana’s Stabus

NIGERIA – Plentywaka, a Nigeria and Canada based mobility startup has raised a US$1.2 million seed round to scale its operations, a month after participating the Techstars Toronto accelerator program. The startup has also announced that it has fully acquired Stabus, one of Ghana’s leading mobility startups. This is a step to further Plentywaka’s ambition of building the largest shared mobility platform on the African continent, starting with West Africa. This investment in Plentywaka attracted a wide range of investors from Canada, the United States, China and Nigeria. The Xchange,…

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Mobility startup Moove raises US$23m Series A funding round for its expansion plans

NIGERIA – Moove, a mobility startup which provides revenue-based vehicle financing to help individuals across Africa own their own vehicles, has raised a US$23 million Series A funding round to help it expand more quickly. The funding round was led by Speedinvest and Left Lane Capital with participation from DCM, Clocktower Technology Ventures, thelatest.ventures, LocalGlobe, Tekton, FJ Labs, Palm Drive Capital, Roka Works, KAAF Investments, Class 5 Global, and Victoria van Lennep, the co-founder of Lendable. Kepple Africa Ventures, and one of Moove’s existing lenders, Emso Asset Management, also joined…

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