Transportation startup Moja Ride secures funding from Toyota Tsusho Corporation

CÔTE D’IVOIRE – Moja Ride, an Abidjan-based digital transportation startup, has secured an undisclosed amount of funding from Toyota Tsusho Corporation and its group company CFAO SAS (CFAO). The investment which came from Toyota Tsusho’s newly launched US$45 million Mobility 54 Investment SAS (Mobility54) fund– a corporate venture capital subsidiary of Toyota Tsusho group, was made through the underwriting of convertible notes. Under convertible notes investment, bonds can be converted into shares of the issuing company under certain conditions. This was the style of investment recently used by the VC…

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