NIGERIA – Nigerian bus-hailing startup, Plentywaka, has raised a pre-seed capital of $300,000 which it aims to use to support its plans of expanding into Nigeria’s capital city, Abuja.
Plentywaka launched in Nigeria’s largest city, Lagos, in September last year and has since gone on to do over 100,000 rides across 7 routes in the commercial city.
The bus-hailing app has also also secured over 40,000 customers during the short period that it has been in operation and is now confident that it is ready to expand into Nigeria’s capital city, Abuja.
In May, Plentywaka launched its Staff Bus Solutions to ensure a safer commute of its staff customers.
According to Plentywaka, most professionals in Abuja rely on taxis to get to their destinations and this can be expensive.
The bus-hailing company is thus positioning itself as a solution by identifying a significant gap in the city’s public transport space.
According to the company, five routes will be launched in the city and customers will get free travel for a week.
Plentywaka revealed that part of the funding will also be used to improve its mapping technology on both Android and iOS apps, its customer experience, and to introduce better payment options.
He further noted that, “Plentywaka in Abuja brings us closer to transforming transport in Nigeria, one state at a time.”
Until last week, Plentywaka was a portfolio company under CrowdyVest Holdings.
The holding company has undergone a reshuffling process and is now operating under a new name: EMFATO Holdings.