BY CHIMA AKWAJA, Lagos
Plentywaka, a Nigerian transport startup, has raised a $300,000 pre-seed investment to transform the transport system in Nigeria with improved mapping technology and expand into Abuja and other Nigerian states.
The funding was led by EMFATO, Microtraction, and Niche Capital. Following the rapid success of its e-hailing bus service in Lagos, the startup is launching in Abuja with five routes and free travel for a week.
With 70 per cent of people in Nigeria’s capital relying on public transport and in the absence of a robust transport system, Plentywaka has identified a significant gap for a more reliable and efficient bus service in the city. Routes for the Plentywaka branded vehicles will include the busy Lugbe to Area 1.
The managing director and co-founder, Plentywaka, 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.
“An efficient 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 transport in Nigeria, one state at a time.”
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.