GreenTec Capital is pleased to announce its investment in T40, a Nigerian intercity transport and logistics technology company that is building solutions to assist mobility service providers in providing better service to their clients and increasing income.
“T40 is here to rebrand the subpar road transport service in Nigeria to a sophisticated and customer-centric one. With our digitized products, transport companies can achieve more profit margin and the customers a pleasurable experience. It’s a win-win. Having the support of an experienced start-up investor like GreenTec will be key to the next stage of our growth journey” Said Folarin Olulana, CEO & Co-Founder of T40.
The African continent has one of the world’s highest rates of urbanization. A lot of economic variables are driving this urbanization, the most prominent of which being young people commuting to work in urban areas. Intercity transportation services in Nigeria and across Africa struggle to recruit and keep clients in a fragmented market.
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T40 has created a number of solutions to assist mobility suppliers in attracting and retaining clients. With the company’s PoS solutions and logistics platform, T40’s solutions let suppliers better promote their offerings as well as better manage individual vehicles or fleets.
T40’s solutions go end-to-end with a client facing app that makes it easier for riders to plan and buy their routes.
Finally, T40 also offers personalizable entertainment centers to improve ride quality and provide an additional marketing channel. T40’s innovative solutions position the company well to scale within Nigeria and beyond as the African intercity transportation and logistics industry rises to meet the emerging demand.
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“Driven by population growth and urbanization, logistics and intercity transport have always been important to Nigeria and Africa’s economic growth. T40 presents a customer-driven solution that leverages technology to delight commuters and transport operators alike. It’s an innovative solution being executed by a strong team with promise and we look forward to working with them,” said Tomi Davies, GreenTec Capital Partners Chief Investment Officer.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write