Logistics startup Errand360 raises pre-seed funding round for its expansion plans

NIGERIAErrand360, a logistics startup which was built to serve users with demand for quick and short errands within their communities and on-demand delivery services, has raised an undisclosed amount of pre-seed funding to expand across Africa.

The funding, which was led by Prof Ndubuisi Ekekwe of Tekedia Capital, will be used to acquire infrastructure, expand, and grow its business across the whole of Africa.

Launched earlier this year, Errand360 bicycles serve users with a variety of delivery services, with the first phase of rollout beginning in Lagos and users able to access its services via mobile app.

“Errand360 is building one of the most important infrastructures in the last mile logistics categories in Africa in a sustainable way,” Ekekwe said.

“By using bicycles to deliver goods, I saw a vision structured to protect our environment even when providing critical services in the economy. This is an amazing playbook, run by brilliant young people. And with that, the whole fundraising process happened within two weeks.”

Errand360 serves users with a variety of delivery services, with the first phase of rollout beginning in Lagos and users able to access its services via mobile app.

The self-funded Errand360 has purchased 100 branded bicycles, backpacks and helmets, and deployed its apps, and is now working on building its user base.

The decision to choose this innovative route according to founder Adele Adetola is that they spotted a need for fast and affordable deliveries, and a need for short errands for people within a community, and this is what inspired their model.

Errand360 hopes to expand to become the largest logistics firm with a zero-carbon footprint in Africa. It plans to deploy another set of 250 bikes before the end of the third quarter of 2021 and moving forward will gradually introduce electric bikes into its fleet.

“Our major goal is to deploy as much as 1,500 bikes and electric bikes in Lagos and other major cities in Nigeria in 24 months,” said Adetola. Errand360 makes money from delivery fees and commission.

Errand360 Bicycles will serve users in the following ways: Food Deliveries, Pharmaceutical product delivery, Grocery Purchase and delivery, document dispatch within the city, short errands, long errands, and messenger’s tasks.

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