Plentywaka, a Nigerian bus-hailing startup has launched in Abuja and has also disclosed that it has bagged $300,000 pre-seed investment led by EMFATO, Microtraction, and Niche Capital.
Plentywaka plans to use the investment to continue to transform the transport system in Nigeria with improved mapping technology.
The startup is kicking off with five routes in Abuja and passengers will enjoy a week of free travel. With 70 percent of people in Nigeria’s capital relying on public transport and in the absence of a robust transport system, Plentywaka has identified a significant gap for more reliable and efficient bus service in the city. Routes for the Plentywaka branded vehicles will include the busy Lugbe to Area 1.
Plentywaka’s Beginnings
The bus-hailing started life in Lagos when it was launched in September 2019. Plentywaka identified an opportunity in the commercial capital’s widely unstructured transport system. Since then, the startup has built a platform of over 40,000 customers, reaching a milestone of 100,000 rides after just 6 months.
As a direct response to the challenges of COVID-19, the startup has also launched solution-driven services such as Logistics by Plentywaka and its Staff Bus Solutions. The new company’s success is attributed to solving the issues of movement with a hassle-free alternative that is steered by technology.
The New Funding
The new funding will be used to build Plentywaka customer experience with developments to the app’s mapping technology to provide more precise tracking for journeys. As well as this, faster and simpler payment options will be introduced to pay for the various Plentywaka services aided by new partnerships with fintech platforms.
“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,” Johnny Enagwolor, Plentywaka’s Managing Director and Co-Founder, said.
“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.”
“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 a transport system that is efficient,” Dayo Koleowo, Partner at Microtraction, says.
“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 a transport system that is efficient,” Dayo Koleowo, Partner at Microtraction, says.
