This archive report was first published on 4 August 2020.
Published on August 4, 2020, Plentywaka, a Nigerian transport startup, has secured a $300,000 pre-seed investment to expand its services into Abuja, the country's capital.
The investment was led by EMFATO, Microtraction, and Niche Capital, with Plentywaka planning to use the funds to improve its mapping technology and expand into Abuja and other Nigerian states.
Since its launch in September 2019, Plentywaka has built a platform of over 40,000 customers, reaching a milestone of 100,000 rides after just six months.
Discussing the investment and launch, Plentywaka's Managing Director and Co-Founder, Johnny Enagwolor, said, “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.”
The startup is launching in Abuja with five routes and free travel for a week, with routes including the busy Lugbe to Area 1. Plentywaka's easy-to-use app, available on Google Playstore and IOS App store, requires just a two-step process to schedule a journey and book a seat for convenient movement around the city.
The new funding will build on its customer experience with developments to the app’s mapping technology to provide more precise tracking for journeys. As well as this, faster and simpler payment options will be introduced to pay for the various Plentywaka services aided by new partnerships with fintech platforms.
