A seed extension investment from V8 Capital Partners has been secured by Nigerian on-demand delivery startup ShapShap as it seeks to extend its capabilities and enter new areas.
GreenTec Capital Partners of Germany provided seed funding for ShapShap in December 2021, and the company has now announced an extension to that round, secured from V8 Capital Partners through its Growth Labs Fund I.
Soon, the startup will expand its last-mile delivery capabilities in Nigeria and other African countries with the help of the fresh capital.
“Technology is aiding the ability for businesses globally to reach their consumers faster, and Africa is no different. We are building IP that makes last-mile logistics more effective. We have noticed a significant spike in distribution of goods and services through online channels and are committed to helping our clients succeed,” Khalil Halilu, CEO of ShapShap said.
Why The Investor Invested
The startup has acquired considerable traction since it was founded. It has completed over 40,000 deliveries in Lagos and Abuja.
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“ShapShap’s unique approach to last-mile logistics and Khalil’s proven track record presents a unique investment opportunity. We are excited to partner with Khalil across various verticals working with several portfolio companies to deliver fully automated last-mile delivery infrastructure,” Tobi Oke, managing partner at V8 Capital Partners, said.
“ShapShap’s innovative approach to delivery and last-mile logistics has great potential to unlock vast opportunities in Nigeria and Africa’s enormous informal services and business markets. The platform’s features enable offering their services to a wide range of businesses that can benefit from an efficient and scalable logistics partner,” Erick Yong, GreenTec Capital CEO, following the December seed
A Look At What The Startup Does
Founded in 2019 by Khalil Halilu, ShapShap is an all-in-one platform designed to take the pain points out of delivery logistics for all stakeholders.
Clients may find a variety of services and products, and delivery employees can simply earn money servicing various vendors, thanks to the platform’s B2B and B2C channels, which allow merchants to quickly provide customers easy delivery alternatives.
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ShapShap is currently servicing logistics, food delivery, and retail deliveries in Lagos and Abuja, Nigeria.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh