T40 Technologies, a technology firm changing Nigeria’s intercity transportation and logistics market, has raised a pre-seed round of funding. Folarin Olulana, the company’s CEO, has constructed a cloud-based transport and logistics operating system designed for intercity service providers.

Reflect Ventures led the round, with Startup Wise Guys, Roselake Ventures, and select angel investors also participating. 

Reflect Ventures founder Michael Friedman claims that “T40 makes it simple for Africans to book transportation or ship parcels from city to city in Nigeria and from Nigeria to Ghana, while also making it simpler for transportation businesses to sell tickets and manage their operations. The value proposition is evident, so we bought our ticket and are riding along with them!”

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T40, which was launched in 2020, adds value to the intercity transport and logistics industry in Nigeria and beyond Africa by allowing transport companies to sell tickets, manage inventory, and generate additional money digitally.

T40’s co-founders have encountered the difficulty of reserving inter-city transportation in Nigeria. To address these difficulties, they entered the transportation industry as investors and service providers in 2018. 

Folarin claims that: “We immediately recognised the obstacles for service providers, bringing us full circle in our understanding of this industry’s problems. Our methodology considers all stakeholders in order to align the interests of all industry participants and deliver benefit to everyone.”
Repairing Africa’s outmoded intercity transportation business model will allow these companies to flourish while offering excellent customer service. Transport businesses face rising expenses and a lack of alternative revenue streams, putting a significant impact on profitability.

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“We have three solutions to this problem. First, we created a new business model that accords with the interests of all stakeholders. Following that, we offer a product (platform infrastructure) that can be tailored to the specific needs of the business, and ultimately, we assist businesses in developing new products to generate revenue development,” Folarin continues.

T40’s system is quickly being adopted by African transportation providers, with 750 routes already added to its network. Transport businesses can join the T40 network and obtain immediate access to T40’s operations tool, which allows them to digitise their operations at no cost. New enterprises can also join the network and apply for vehicles on T40’s “wet-lease” solution, which gives them with fully serviced vehicles driven by expert drivers, allowing them to serve more clients and develop new routes. T40 is also constructing a retail network where PoS agents and other merchants can sign up to sell retail bus and car tickets on the network for a commission.

T40 transport logistics T40 transport logistics

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