(Ecofin Agency) – This operation brings to $5.6 million the total funds mobilized to date by the Nigerian mobility company. It plans to optimize its solutions and increase its presence in Nigeria, its main operating market.
The Nigerian mobility company Shuttlers raised $4 million in equity on Tuesday, April 4. The financing will enable it to accelerate its growth and optimize its transport solutions in Nigeria. Venture capital firm Verod-Kepple led the round, along with investors Vested World, Echo VC, CMC 21 & Alsa, and SheEquity.
We did a thing! ??? https://t.co/RrWYQxnB63
— Damilola Olokesusi (@dammyoloke) April 4, 2023
Thanks to this additional financial resource, Shuttlers plans to optimize its transport solutions and strengthen its activity in Nigeria, by building infrastructures to supply public transport in several Nigerian cities.
« This funding will allow us to build the infrastructure we need to power public transport, transform passenger transport and expand our reach to more communities in Nigeria. commented Damilola Olokesusi (pictured, right), CEO of Shuttlers.
This new operation brings the total funds raised to date by Shuttlers to $5.6 million. The mobility start-up had already raised $1.6 million in seed funding at the end of 2021.
In the year 2022, Shuttlers which operates a fleet of over 300 vehicles, claims to have completed over 900,000 journeys across Nigeria. The technology-enabled mobility company intends to scale up its shared mobility service to serve more businesses and individuals in the country.
Chamberlain Moko
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05/04/2023 – Fintech and transport sectors captured 79.7% of Nigerian start-up fundraising in 2022 (report)
