In line with its continental expansion mission, Nigeria’s leading mobility startup, PlentyWaka which provides hassle-free shared rides on-demand, has announced that it is changing its name to Treepz. This is coming a few weeks after raising $1.2 million seed funding and acquiring Ghana’s leading mobility startup, Stabus.
Onyeka Akumah, Co-Founder and CEO of Plentywaka
The startup in a statement said that the move presents an opportunity to align the company name with its Pan-African expansion plan. It will also better represent the vision of the company which is to build the largest shared mobility platform across Africa.
Pronounced ‘Trips’ (Treepz), the company has also released a new company logo. Its core service offerings will remain the same but with new names; Daily Treepz, Travel Treepz, and Corporate Treepz. Its existing mission statement and “black & yellow” brand colours will also be retained for marketing and branding purposes.
Existing users won’t have to take any action as the new app will automatically force an update to the new Treepz experience in Africa.
Its CEO, Onyeka Akumah said that “This name change is a result of in-depth discussions with our stakeholders, partners and staff. With our plans for sub-saharan African expansion in a few months, we discovered the word “waka” means many things different from trips or movement. So, we decided to change it to something exciting that will allow us to scale fast.
Today I’m excited to introduce you to Treepz and you can create many variations from it (my treepz, daily treepz, travel treepz, holiday treepz, corporate treepz)”
The name Treepz embodies everything that happens on the road, travelling across cities, within cities and it gives a cool vibe to the experience, he added.
The new name boldly states our mission to provide safe, convenient and comfortable trips across Africa with plans for our expansion to 6 countries in 2 years on the continent.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Nigeria’s largest shared mobility platform Plentywaka which provides safe, comfortable and convenient rides on demand using cutting edge technology has announced yet another groundbreaking partnership to take its services to another level. As part of its continued efforts to revolutionize the public transportation sector in Nigeria, the Techstars funded startup has today partnered with Autochek Africa to facilitate vehicle inspection, financing and maintenance for its teeming number of vehicle partners.
Autochek which was founded in 2020 has a 360-degree automotive solution that offers technology-driven vehicle financing, warranty and maintenance services. With a presence in Nigeria and Ghana, the company also provides a strong network of after-sales services that preserve and ease vehicle ownership experience across Africa.
Onyeka Akumah, Co-Founder and CEO of Plentywaka
This partnership comes in the wake of plans to expand the Plentywaka Dailywaka ride-sharing service to over 7 new routes in a few days.
The strategic alliance will facilitate hassle-free vehicle inspection and hire-purchase for prospective Plentywaka vehicle partners, within a short period of time. Plentywaka has in the last 20 months completed over 355,000 rides and recently expanded its Dailywaka (In-city) service to include more vehicle options like mini-vans.
This vehicle has been reintroduced in a bid to increase vehicle availability for its teeming number of riders as well as to help them split fares and avoid ridiculous surge fares and first/last mile issues for heroes (drivers).
Speaking on the partnership Onyeka Akumah, Co-Founder and CEO of Plentywaka said“Just like Plentywaka, Autocheck Africa was born out of a need to disrupt an underutilized and unstructured industry.
Now, a partner or heroes on Plentywaka can onboard their vehicle within 30 minutes and even get vehicle financial assistance on request.
Our values align and we are excited about the ease and flexibility that this partnership presents for all our vehicle partners across Africa starting with Nigeria.”
According to Etop Ikpe, founder and CEO of Autochek said that “This partnership presents a huge opportunity to empower Plentywaka’s vehicle partners through financing as well as enables us, at Autochek, to continue to fulfil our mission to enhance African consumers experience by creating a single marketplace for their automotive needs.
By undergoing our 150-point check inspection and taking advantage of our routine maintenance service, Plentywaka’s vehicles are kept on the road in good conditions, thus keeping commuters safe whilst on the move.”
To enjoy the Plentywaka Dailywaka or Travelwaka services, riders can download the Plentywaka app on Google Playstore and iOS to enjoy safe, comfortable and convenient transit at the tap of a button within 3 clicks.
Anyone excited about making extra income can also become a hero (driver) on Plentywaka when you quickly onboard your vehicle on the platform through Autochek Africa. More so, Heroes enjoy a 90:10 sharing ratio on the riders fare, while earning as much as N250, 000 added monthly income and other benefits.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Nigeria’s leading transportation technology company, Plentywaka, and GUO Transport Services Limited, one of Nigeria’s largest transportation companies, with specialization in the interstate traveling industry, have today announced a partnership to further simplify the bus booking travel experience for Nigerians.
With this partnership, Plentywaka and GUO Transport would combine technology, and marketing, to bring transport into one simple product, the Plentywaka mobile app.
Onyeka Akumah, Co-Founder, and CEO of Plentywaka
GUO Transport Services Limited is a division of G. U. Okeke & Sons Ltd was founded in 1980 and has become a household name in the transportation industry and one of the largest providers of intercity and interstate transportation, serving more than 200 destinations across Nigeria and West Africa with a modern, environmentally-friendly fleet.
The company has become an icon in the transportation industry, providing safe, enjoyable and affordable travel to millions of passengers annually.
Plentywaka has in the last 20 months, completed over 350,000 rides and recently launched its interstate travel service called travelwaka, which provides affordable tickets from major bus travel companies such as GUO Transport Services Limited and other transport companies.
Plentywaka creates ease of ticket purchase for travel commuters across the country and it’s travelwaka service offers commuters the luxury of booking bus trips directly on the Plentywaka mobile app, while also giving its users comparison options from a wide range of travel companies in a single search.
This enables users the opportunity to plan their entire journey without having to leave the comfort of their homes or stand in long queues.
In light of this partnership, GUO Transport Services Limited and Plentywaka will be providing millions of bus commuters access to explore different states across Nigeria through the Plentywaka app.
GUO Transport Services Limited will onboard over 600 vehicles to boost Plentywaka’s fleet size to 820+ vehicles.
This will also mean major routes like Lagos – Abuja and 200 more destinations will now be opened up on the Plentywaka App for customers to book them at affordable rates.
Speaking on the partnership, Onyeka Akumah, Co-Founder, and CEO of Plentywaka said:
“The partnership with GUO Transport Services Limited is great for our users especially because we know a lot of them have been looking for routes that GUO operates on.
We are very excited to have developed the technology behind an easy-to-use mobile app that will make the travel experience seamless for Nigerians.”
Speaking on the partnership, Kene Okeke who is the Director of Operations for GUO Transport Services Limited, had this to say:
“We are excited about this partnership with PlentyWaka because their values and offerings align closely with ours. We can now move more people from across Nigeria conveniently and without hassle. We believe that every single traveler deserves easy and comfortable rides to and from their destinations.
Considering how much PlentyWaka has contributed to this, we are glad to get on board with them.”
Starting from today, commuters can now use the Plentywaka mobile app to either book their daily rides using the bus service or book and buy bus travel tickets from the comfort of their homes, cutting off long queues and bag rustling. Even more, the long weekend is here and you can book GUO bus tickets to states within Nigeria and enjoy a 5-10% discount.
Plentywaka will continue to sign leading bus operators in Nigeria as we aim to become the largest aggregator of bus operators in the country providing a better way to manage and monitor their bookings and customers.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Nigerian bus-hailing startup Plentywaka is joining local car-making company, Innoson Vehicle Manufacturing— which had earlier last month announced that it was piloting a digital car-hailing service in the south eastern city of Enugu — to explore Nigeria’s other cities, apart from commercial hub Lagos and capital city Abuja. The partnership will see both exploring Nigeria’s south east and the adjoining state of Delta.
Plenty waka Co-founder, Onyeka Akumah
“It’s finally here guys!!We weren’t mincing words when we said “Something Big” was coming. Plentywaka partners with Innoson vehicle manufacturing(IVM) Nigeria’s first indigenous automobile manufacturer, to launch in the south east, starting with Delta state,” the company announced on its Twitter Page.
Why This Matters And How It Would Configure Nigeria’s Tech Startup Landscape
Before now, Lagos is synonymous with Nigeria whenever Nigeria’s tech startup ecosystem and the investments that come to it are mentioned. One of the reasons for this is the population density of the city, which is home to more than 20 million people. The city also holds about 15.2% of the country’s entire internet population (14,192,283 subscribers).
However, recent events, such as ban on bike-hailing startups who, backed by the state government, have invested heavily in the city; and introduction of new taxes for ride-hailing companies operating in the state, are building pent-up emotions among current industry players and may likely change the dynamics a few years from now. A glimpse into this future is already playing out with disgruntled startups locating away from the city.
Lagos’ neighboring state Ogun, with more than 5 million (6.3%) active internet subscribers as at Q3 2017 is the second state with the highest rate of internet penetration in Nigeria, and a strong contender after Lagos. This is followed by Oyo, FCT, Kano, Kaduna, Rivers, Edo, Delta, and Niger states, all 10 states accounting for more than 54.9% of the internet subscriber base in the country.
In the entire south east where IVM and Plentywaka would be piloting their joint ride-hailing service — made of Abia, Anambra, Ebonyi, Enugu and Imo states — there are close to 15 million active internet subscribers, as at Q3 2019.
The figures are even more interesting when a combination of adjoining states, where the highest economic activities occur, is made. For instance, the south eastern state of Anambra which forms an urban conurbation with Delta, alone, has more than 5 million active internet users. The state of Delta, on its own, has more than 4 million internet subscribers. Therefore, this presents a big opportunity for tech startups, such as IVM and Plentwaka, looking to scale their models. Most interesting also is when another neighbouring state such as Abia, with over 3 million internet subscribers, is added to the combination.
One major factor that may most likely function to retain a good number of tech startups in Lagos is the fact that, apart from an internet user base of more than 17 million people, at a GDP per capita of more than $7000, Lagos houses most of Nigeria’s easily disposable incomes. This factor becomes more compelling when the state is compared with other regions, such as the south-east, for example, where IVM wants to launch the pilot phase of its ride-hailing service. Collectively, the region has an average GDP per capita of around $1300. This may not be entirely a disincentive to scaling, given that there are other countries with lower economic indexes but relatively buoyant startup ecosystems. For instance, Uganda’s capital city Kampala has an estimated GDP per capita of around $2000, and still houses some of the continent’s leading tech startups, like the recently acquired Beyonic; Safeboda etc.
Therefore, scaling to Nigeria’s other states is highly practicable, provided that the uncertainty of government policies, infrastructural deficit, security and scattered population density of those states (resulting in increase in cost-per-customer acquisition and which could translate to a hard time attaining profitability), are well taken care of.
Even these factors are not absent from current challenges plaguing the Lagos startup ecosystem. Apart from disruptive policy alterations, the state is still groaning under the heavy weight of traffic jams. A survey report by Planet Projects showed that, at least, 3 out of every 10 years spent in Lagos is lost to traffic — meaning that residents of Lagos, Nigeria’s economic capital, spend an average of 7 hours 20 minutes in traffic every day.
This is not getting any better any time soon as more and more vehicles — there are currently more than 5 million cars in Lagos, out of over 11 million vehicles in Nigeria — continue to line bumper-to-bumper across roads in the city.
One thing the latest partnership would definitely achieve is to test the waters, and normalise tech trends outside Lagos and Abuja. This could most possibly trigger innovations and investments in tech startups beyond both cities, and correspondingly configure the tech startup landscape in Nigeria.
Innoson Vehicle and Plentywaka have added themselves on Africa’s digital ride-hailing map. Innoson Vehicle ‘s IVM Connect will be available from October, 2020.Source: TechCabal.
Plentywaka Innoson South East Plentywaka Innoson South East Plentywaka Innoson South East
A Look At What Plentwaka Does
Co-founded in September 2019, by the quartet of Afolabi Oluseyi, Enagwolor Johnny, John Shaibu, and Onyeka Akumah, Plentywaka available on Google Playstore and IOS App store, requires just a two-step process to schedule a journey and book a seat for convenient movement around a city. Following its success in the Nigerian largest commercial city of Lagos, the startup has since launched its Abuja routes, which were available for a one-week free commute for prospective users. The routes include Nyanya — Berger; Berger — Nyanya; Kubwa — Area 1; Area 1 — Kubwa; Lugbe — Area 1; Area 1 — Lugbe.
Figures released by Nigeria’s National Bureau of Statistics in 2018 revealed that there are 11,653,871 million vehicles in Nigeria. 6,768,756, representing about 58.08 per cent are commercial vehicles while 4,739,939 (40.67 per cent) are private vehicles. Nigeria’s population has recently been projected by the United Nations to have reached a staggering 200 million. The implication of this is that 6.7 million commercial vehicles cannot serve a population of 200 million or more. Out of the 6.7 million commercial cars in Nigeria, only about 200,000 commercial vehicles are on the roads in Lagos alone, with a population of more than 17 million people.
This is even worsened by the fact that a reported 70% of people in Nigeria’s capital rely on public transport due to the lack of a robust transport system. Plentywaka hopes to help resolve this problem.
The startup is pioneering what SWVL is doing in Egypt, and its adding to the growing number of e-hailing bus-sharing services available to public transport users in Africa. Recently, Uber launched its first global bus service in Egypt, after acquiring local startup Careem in a $3.1 billion deal. SWVL which had mulled plans to expand to Lagos, Nigeria, even ahead of Plentywaka, leads the continent’s e-hailing bus-sharing service, with major presence in Egypt and Kenya, and Pakistan. The Cairo-headquartered startup is backed by some of top regional VCs including BECO Capital, Raed Ventures, Oman Technology Fund, and global names like Endeavor Catalyst and has raised over $100 million in VC money which makes it one of the best-funded startups in Africa and the best-funded startup in this category. Other notable regional players include Kenya-based bus services QuickBus and Little.
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
Nigerian bus-hailing startup, Plentywaka has expressed as encouraging the business environment even with the Covid-19 pandemic announcing that it has recorded close to 200,000 trips by more than 40,000 riders in its first year. Launched in Lagos in September 2019 as a subsidiary of Crowdyvest Holdings, the parent company of agriculture investment platform, Farmcrowdy, Plentywaka’s Android and iOS apps allow riders book seats and schedule their journeys from one part of the state to another. Riders can pay for their trips using an in-app ‘Wakapurse’ e-wallet.
Johny Ena, Managing Director of Plentywaka
Plentywaka is among a growing number of bus-hailing services in Lagos that have launched to provide users with a more effective, safe and stress-free alternative to the state’s current public bus transport system.
With only three months in before the onset of the coronavirus pandemic, the company, as with the global mobility industry was one of the worst hit by lockdowns and the halt in movement of people across the state. Here in Lagos, many taxi and bus-hailing companies closed for business throughout the month of April when lockdows were enforced. Some continued skeletal operations moving essential workers around the state during the period.
When lockdowns were lifted in May, the challenge for bus-hailing companies like Plentywaka was how to drive revenue while adhering to the recommended passenger capacity.
Speaking on the progress made so far, Johny Ena, Managing Director of Plentywaka said that the company has been operating in line with the government’s directives on social distancing, we have adjusted the seating arrangement on our buses adding that “eight riders will be allowed on the 14-seater buses and 16 riders on the 28-seater buses”.
The company temporarily increased fares in May by 20-25% for this reason. It also launched a solution for corporates, Staff Bus Solutions, and a business-to-consumer delivery service Logistics by Plentywaka. It has also extended their presence to Abuja, the country’s capital.
“Since we launched a year ago, we have achieved remarkable milestones and have been able to adapt when faced with unprecedented challenges the 2020 pandemic brought,” Ena said.
“Looking to the year ahead, our goal is to continue to improve the riders’ experience, increase productivity in Nigeria with efficient transportation, and create more jobs and income opportunities through our Plentywaka Vehicle Partnership scheme.”
Efficient transportation is a big challenge for most state governments in the country but more so for Lagos state where some 20 million Nigerians live and work. With the advent of more tech-enabled transport solutions, the state government and these technology startups have long been at loggerheads at how to create regulatory frameworks that guide their operations in the state. The startups have also been at the mercy of fragmented unions, ministries and other government parastatals in charge of various aspects of the transport sector in the state.
Earlier this year, these challenges succeeded in booting motorcycle hailing companies out of the state in the government’s bid to enforce a 2012 law regarding the movement of motorcycles and tricycles.
In what seemed to be a move to order the sector, the government has come up with guidelines for tech-enabled transport companies operating in the state. Motorcycle-taxi companies are not included in this plan because they “are not part of the Lagos masterplan” according to the Lagos state transport commissioner. The guidelines which went into effect in August covers issues around licenses, data collection and dissemination, insurance, among other things.
Over the next 12 months, Plentywaka says it will continue to develop its app, particularly its cashless payment feature still relevant in the post-lockdown period, as well as its GPS technology.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
In a move many say is over ambitious, a Nigerian bus-hailing startup, Plentywaka, has raised a pre-seed capital of $300,000 which company sources say it will deploy in its ongoing expansionist agenda focusing on the nation’s capital Abuja. Plentywaka which seems to fill the space left by the failed OBus launched last year by Opay was able to attract a pre-seed round investment in a funding drive led by Niche Capital, Microtraction and EMFATO Holdings. Plentywaka which until recently was a portfolio company under CrowdyVest Holdings but due to series of reshuffling the holding company is now operating under a new name of EMFATO Holdings. Plentywaka; crowdfunding agritech startup, Farmcrowdy; and investment platform, Crowdyvest are all subsidiaries of the newly-formed holding company.
Johnny Enagwolor, co-founder and managing director PlentyWaka
Established in 2019 in Lagos, Plentywaka has gone on to do over 100,000 rides across 7 routes in the commercial city with over 40,000 customers in the process. After operating in Lagos for a year, the company is eyeing the capital city Abuja armed with the new capital raise. The choice of Abuja was informed by the fact that most professionals in the city rely on taxis to get to their destinations and this can be expensive. Plentywaka is positioning itself as a solution by identifying a significant gap in the city’s public transport space.
According to the company, it will launch with five routes and customers will get free travel for a week. Also, routes will include Lugbe, a suburban area in Abuja to Area 1, Garki, a popular commercial and administrative area in the city.
The pre-seed capital will not only be used for expansion to Abuja and other states. According to the company, part of the funding will be used to improve its mapping technology on both Android and iOS apps, its customer experience, and to introduce better payment options.
Johnny Enagwolor, co-founder and managing director of the company said that securing investment and expanding into Abuja in the midst of a pandemic speaks volumes of the demand for the service Plentywaka provides. “We are excited to have investment partners on board that see and believe in our vision. Plentywaka in Abuja brings us closer to transforming transport in Nigeria, one state at a time.”
Dayo Koleowo, a partner at Microtraction, one of the investors in the round, said the investment firm was impressed with Plentywaka’s progress since launching in the third quarter of last year. The aforementioned progress and the problem the startup is trying to solve in large cities are some of the reasons Microtraction is backing the one-year-old startup. “The distressful and uneasy experience by the majority of these commuters, especially in large cities is evident. We are backing the Plentywaka team to change that experience for commuters.”
On the company’s efforts during the pandemic, it launched its Staff Bus Solutions in May to ensure a safer commute for its staff customers. Then in June, the company expanded its offerings in Logistics by Plentywaka, a same-day delivery logistics service.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Plentywaka, the Nigerian bus-hailing startup that looks to confront continent’s giants such as Uber and Egypt’s Swvl has secured $300,000 in new funding with plans to launch in Nigeria’s capital, Abuja, its second city since it was launched in September last year.
Jonny Enagwolor, Managing Director and co-founder of Plentywaka
“Securing investment and expanding into Abuja within our first year, in the midst of a pandemic speaks volumes of the demand for the service we provide. We are excited to have investment partners on board that see and believe in our vision. An efficient transport system is fundamental to the prosperity of any city and we believe safe, convenient, and comfortable travel should not just be for the few; but for everyone. Plentywaka in Abuja brings us closer to transforming transport in Nigeria, one state at a time,” Jonny Enagwolor, Managing Director and co-founder of Plentywaka said in a statement.
With the investment, Plentywaka would be invading Nigeria’s capital city, Abuja, which is the second city, apart from Lagos, the startup would be expanding to since its launch in September 2019.
The new funding will also assist the startup in building on its customer experience with developments to the app’s mapping technology to provide more precise tracking for journeys.
The startup also aims to improve its services, through partnership with fintech services so users will find it easier making payments on its platform.
Plentywaka is also currently looking for partners to bring their vehicles on board to join the Plentywaka Vehicle Partnership scheme. To this effect, the startup is looking to work with individuals, corporates, and state governments to expand its technology and fleet to provide better transportation services.
Why The Investors Invested
The startup which has a strong team made up of former founders, including founder of Farmcrowdy, Nigeria’s first digital agriculture platform, secured the pre-seed funding round partly because it has gained traction since its launch last year. Since its inception, the startup has reportedly gained over 40,000 customers, reaching a milestone of 100,000 rides after just six months of operations, an attractive milestone for investors. However, it should be noted that Plentywaka is a subsidiary of EMFATO Holdings. The startup is also relying on the strength that it is a major pioneer in the bus-hailing segment of the Nigerian e-hailing industry. There are local players that are internet-based, but Plentywaka is among those pioneering intra-city digitalised public transport in Nigeria.
“Plentywaka’s rapid growth since they launched Q3 last year has been tremendous so far,’’ Dayo Koleowo, Partner at Microtraction said. “We are glad to be partnering with a very strong team that is passionate about providing convenience, safety, and comfort to everyday commuters. The distressful and uneasy experience by the majority of these commuters, especially in large cities is evident. We are backing the Plentywaka team to change that experience for commuters progressively by creating an efficient transport system.”
Co-founded in September 2019, by the quartet of Afolabi Oluseyi, Enagwolor Johnny, John Shaibu, and Onyeka Akumah, Plentywaka available on Google Playstore and IOS App store, requires just a two-step process to schedule a journey and book a seat for convenient movement around a city. Following its success in the Nigerian largest commercial city of Lagos, the startup will be launching its Abuja routes, which are available for a one-week free commute for prospective users. The routes include Nyanya – Berger; Berger – Nyanya; Kubwa – Area 1; Area 1 – Kubwa; Lugbe – Area 1; Area 1 – Lugbe.
Figures released by Nigeria’s National Bureau of Statistics in 2018 revealed that there are 11,653,871 million vehicles in Nigeria. 6,768,756, representing about 58.08 per cent are commercial vehicles while 4,739,939 (40.67 per cent) are private vehicles. Nigeria’s population has recently been projected by the United Nations to have reached a staggering 200 million. The implication of this is that 6.7 million commercial vehicles cannot serve a population of 200 million or more. Out of the 6.7 million commercial cars in Nigeria, only about 200,000 commercial vehicles are on the roads in Lagos alone, with a population of more than 17 million people.
This is even worsened by the fact that a reported 70% of people in Nigeria’s capital rely on public transport due to the lack of a robust transport system. Plentywaka hopes to help resolve this problem.
The startup is pioneering what SWVL is doing in Egypt, and its adding to the growing number of e-hailing bus-sharing services available to public transport users in Africa. Recently, Uber launched its first global bus service in Egypt, after acquiring local startup Careem in a $3.1 billion deal. SWVL which had mulled plans to expand to Lagos, Nigeria, even ahead of Plentywaka, leads the continent’s e-hailing bus-sharing service, with major presence in Egypt and Kenya, and Pakistan. The Cairo-headquartered startup is backed by some of top regional VCs including BECO Capital, Raed Ventures, Oman Technology Fund, and global names like Endeavor Catalyst and has raised over $100 million in VC money which makes it one of the best-funded startups in Africa and the best-funded startup in this category. Other notable regional players include Kenya-based bus services QuickBus and Little.
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
