GreenTec Capital Companions invests in Nigerian mobility, logistics startups
Germany-based VC agency GreenTec Capital Companions has introduced undisclosed investments in two Nigerian startups – inter-city transport firm T40 and logistics platform ShapShap.
GreenTec has invested in a bunch of African startups, together with Kenyan AI startup SuperFluid Labs, Nigerian logistics startup Parcel-it, Kenyan insurtech platform Bismart, Ivory Coast-based waste administration startup Coliba, Kenyan logistics platform Amitruck, and Nigerian e-commerce startup Pricepally.
It has now expanded its portfolio with two investments within the mobility and logistics sectors. T40 is an inter-city transport and logistics tech firm growing options to assist mobility service suppliers supply higher service to their clients and improve their revenues.
The startup has developed a variety of options designed to assist mobility distributors appeal to and retain clients. T40’s options assist distributors to higher market their choices, in addition to higher handle particular person autos or fleets with the corporate’s PoS consolves and logistics platform.
“T40 is right here to rebrand the subpar street transport service in Nigeria to a classy and customer-centric one. With our digitised merchandise, transport firms can obtain extra revenue margin and the purchasers a pleasurable expertise. It’s a win-win. Having the assist of an skilled start-up investor like GreenTec shall be key to the following stage of our progress journey,” mentioned Folarin Olulana, chief govt officer (CEO) and co-founder of T40.
“Pushed by inhabitants progress and urbanisation, logistics and intercity transport have at all times been necessary to Nigeria and Africa’s financial progress. T40 presents a customer-driven resolution that leverages know-how to please commuters and transport operators alike. It’s an revolutionary resolution being executed by a robust workforce with promise and we look ahead to working with them,” mentioned Tomi Davies, GreenTec Capital’s chief funding officer.
The agency has additionally introduced its funding in Nigeria’s ShapShap, a logistics platform specializing in deliveries in Africa’s fragmented logistics market. ShapShap has developed an all-in-one platform connecting clients, drivers, and retailers and is at present facilitating last-mile deliveries in Abuja and Lagos. The corporate has already processed greater than 30,000 orders for greater than 4,000 customers and is working with greater than 100 distributors.
GreenTec will assist ShapShap by means of its enterprise constructing mannequin.
“ShapShap’s revolutionary strategy to supply and last-mile logistics has nice potential to unlock huge alternatives in Nigeria and Africa’s monumental casual companies and enterprise markets. The platform’s options allow providing their companies to a variety of companies that may profit from an environment friendly and scalable logistics associate,” mentioned Erick Yong, GreenTec Capital CEO.