Nigerian logistics provider Kwik closes US$2M series A funding round to accelerate expansion

NIGERIA – Kwik, a platform that offers logistics services to B2B merchants ranging from social traders to e-commerce platforms, has received a US$2 million series A round of funding to fuel expansion.

The latest funding round was led by XBTO Ventures, a crypto finance corporation with a venture capital arm that invests in digital assets and other types of companies.

The round also attracted participation from Humla Ventures, Nabuboto, Ubisoft CEO Yves Guillemot, and Pulse Africa founder Leonard Stiegeler.

Kwik will use the funds to expand its client acquiring and finance activities beyond Lagos and Abuja, including Ibadan, Kano, Port Harcourt, and Kaduna.

Founded in 2019 by Romain Poirot-Lellig, the platform aims to “bring the casual economic climate into the official economic climate,” focusing on previous-mile delivery, e-commerce (warehousing and fulfillment), and monetary companies.

Our intention is for Kwik to turn out to be the key app option for African social suppliers and standard retailers likely digital,” said Romain Poirot-Lellig, founder and CEO of Kwik.

Integrating delivery, payment, and e-commerce equipment seamlessly in a single simple-to-use cellular app is a catchy proposition.”

The startup performs in a crowded logistics and delivery area with renowned suppliers like Gokada in Nigeria.

Its last-mile delivery service links businesses of all sizes with freelance delivery riders to convey their products to businesses and individuals.

Deliveries of things ranging from parcels to food items take less than two hours, according to the company’s website.

Since its inception in Lagos and extending its existence to Abuja, the firm has onboarded additional than 100,000 retailers who use Kwik’s website and mobile applications to run the logistical, professional, and economic requirements of their organizations.

As the COVID-19’s effects echo over the world, devastating businesses and economies and leaving governments scurrying to adapt, a few industries recognized increased opportunity to achieve more, not less, as the influence of the convention spreads.

This category includes e-commerce businesses and the delivery start-ups that link them with customers.
Africa, with its large market for last-mile deliveries, seized the opportunity, and many firms are already flourishing and moving into other continents.

These prospects are especially prominent in rising economies such as Nigeria, where there is plenty of opportunity for growth and people are eager to adapt to innovative solutions.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE

Other Recent Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.