German firm, GreenTec has disclosed that it has made investments in two Nigerian startups in mobility and logistics which are T40 and ShapShap respectively.
A host of other African startups like Nigerian logistics startup Parcel-it, Kenyan AI startup SuperFluid Labs, Ivory Coast-based waste management startup Coliba, Kenyan insurtech platform Bismart, Nigerian e-commerce startup Pricepally, and Kenyan logistics platform Amitruck have also seen investments from GreenTec.
In a bid to expand its potfolio, it has now made two investments in the mobility and logistics sectors.
T40, an inter-city tech transport and mobility company, is developing solutions to help mobility service providers offer quality service to their customers and also increase their revenues.
A range of solutions has been developed by the startup in order to help mobility vendors attract and retain customers. T40’s solutions help vendors better manage vehicle or fleets owned by individuals using the company’s PoS consolves. It also helps these vendors better market their offerings.
Speaking about the services of T40 and how the investment will help facilitate the company’s mission, chief executive officer (CEO) and co-founder of T40, Folarin Olulana said:
“T40 is on a mission to rebrand the subpar road transport service in Nigeria to a customer-centric and more sophisticated one. Transport companies can utilize our digitized products to achieve more profit margin and the customers can also get a pleasurable experience. With the support of an experienced start-up investor like GreenTec we are sure to reach the next stage of our growth journey,”
Also read, How T40 and Intercity are changing Nigeria’s Mobility Space
Tomi Davies, Chief Investment Officer at GreenTec also said, intercity transport and logistics have always been important to Nigeria and Africa’s economic growth due to population growth and urbanization.
T40 presents a solution that is not only customer-driven but also leverages technology to make to optimize user experience for commuters and transport operators alike.
The solution is very innovative and being executed by T40’s strong team with promise, we look forward to working with them.
The firm has also confirmed its investment in ShapShap. A Nigerian logistics platform that focuses on deliveries in Africa’s fragmented logistics market.
Having developed an all-in-one platform that connects drivers, customers and merchants, ShapShap is currently facilitating last-mile deliveries in Lagos and Abuja. The company has processed over 30,000 orders for more than 4,000 users and is working with over 100 vendors.
“ShapShap has developed an innovative approach to delivery and last-mile logistics and this can see to the creation of vast opportunities in Nigeria and Africa’s enormous informal services and business markets. The platform possesses features that enable them offer their services to a wide range of businesses that can benefit from a scalable and efficient logistics partner,” said Erick Yong, GreenTec Capital CEO.
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