Bus-hailing startup, Plentywaka, has raised $300,000 in pre-seed funding led by Emfato, Microtraction, and Niche Capital
According to the company, “the investment will be used in continuing Plentywaka’s mission of transforming the Nigerian transportation industry with improved mapping technology and will usher in Plentywaka’s expansion to many other states including the nation’s capital.”
PlentyWaka is a technology-driven bus sharing solution, designed to allow users to schedule their rides from their preferred pick-up locations to their desired destination and receive real-time information about their rides thus offering every-day commuters convenience, safety and comfort in their daily commute.
Launched in 2019, Plentywaka commenced operations in Lagos, Nigeria and it recently celebrated the completion of 100,000 journeys in just its first 6 months and achieved a milestone of 145,000 rides in just eleven months of launch.
The company also commenced operations in Abuja, the capital of Nigeria with free travel for an entire week starting August 4th to 11th, 2020
The launch will kickoff with the following routes,
Nyanya – Berger – Nyanya
Kubwa – Area 1 – Kubwa
Lugbe – Area 1 -Lugbe
According to the Managing Director and Co-Founder, Johnny Enagwolor in discussing the investment and the launch, “Securing investment and expanding into Abuja within our first year, in the midst of a pandemic speaks volumes of the demand for the service we provide.”
“We are excited to have investment partners on board that see and believe in our vision. An efficient transportation transport system is fundamental to the prosperity of any city and we believe safe, convenient, and comfortable travel should not just be for the few, but for everyone. Plentywaka in Abuja brings us closer to transforming transportation in Nigeria, one state at a time.”
Dayo Koleowo, Partner at Microtraction while speaking on investment, said “Plentywaka’s rapid growth since they launched Q3 last year has been tremendous so far. We are glad to be partnering with a very strong team that is passionate about providing convenience, safety, and comfort to everyday commuters. The distressful and uneasy experience by the majority of these commuters, especially in large cities is evident. We are backing the Plentywaka team to change that experience for commuters progressively by creating a transport system that is efficient”
The Plentywaka app which is available on Google Playstore and IOS App store is easy to use and requires only a two-step process to reserve a seat on a bus and schedule a journey for easy movement in and around cities.
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