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Onyeka Akumah

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Nigerian Startup Treepz Raises $1.5M To Modernize Africa’s Transportation Systems

Nigerian transportation platform Treepz has now acquired Ugabus — a bus transportation service that groups inter-city bus operators in Uganda — due to an acquisition totaling $1.5 million in funding. According to TechCrunch, the funds served as an addition to a previous seed round from August, in which $1.3 million was raised. The contributors to the extension were Japan-based Uncovered Fund, Dubai-based Blanford Capital and Jonomi Capital and Egypt-based Jedar Capital. With recent funding, Ugabus — to be renamed Treepz beginning on Dec. 1 — currently houses 70 percent of the country’s bus operations and over 50,000 customers in Uganda, TechCrunch reports. Now the Nigerian transportation platform is one step closer to fulfilling its plans to expand throughout the continent. ​​“We’ll be able to service most of the major cities in Uganda, but the good thing about East Africa is they have very seamless borders between the countries, so it’s easy to move from Uganda to Rwanda, Uganda to...

Nov 22, 2021