Kwik, a French-Nigerian B2B startup that is rapidly growing as a provider of SaaS logistics services to social vendors and e-commerce platforms in Africa, has announced the completion of its $2 million Series A financing. The financing round is led by XBTO Ventures, a digital asset and fintech investor, with participation from several new and existing shareholders, including venture capital firm HUMLA Ventures, Pulse.Africa founder Leo STIEGELER, French technology investment firm NABUBOTO, and Ubisoft CEO Yves GUILLEMOT. Kwik is concentrating its efforts on the development of digital services for the three critical pillars of last-mile delivery, e-commerce and fulfillment, and financial services.
“Our goal is for Kwik to become the prime app choice for African social vendors and for traditional merchants going digital. Integrating delivery, payment and e-commerce tool seamlessly in one easy-to-use mobile app is a catchy proposition” explains Romain POIROT-LELLIG, Kwik’s Founder & CEO. “This financing round will enable us to expand across all three key verticals and in select geographic areas”.
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“We are very excited to join the Kwik adventure” says Philippe BEKHAZI, CEO of XBTO. “Kwik has shown tremendous momentum since its launch and its mission to digitize local trade in Nigeria and soon around Africa resonates particularly well with us.”
Kwik was launched in June 2019 in Lagos and quickly established itself as the preferred digital platform for securing high-quality last-mile delivery services. The business grew from bicycles to vans and SUVs to 20-ton trucks. Over 100,000 merchants have already embraced the Kwik platform. Additionally, the company introduced a variety of payment and financial services in 2021, which already account for more than 10% of its GMV.
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 writer
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