Nigerian mobility startup Plentywaka raises $300,000 investment as it expands into Abuja

Nigerian mobility startup Plentywaka raises $300,000 investment as it expands into Abuja

Published: 06-08-2020 15:19:00 | By: Pie Kamau | hits: 7363 | Tags:

Nigerian mobility startup Plentywaka secured a pre-seed investment led by EmfatoMicrotraction, and Niche Capital worth $300,000. This investment will be used in continuing Plentywaka’s mission of transforming the Nigerian transportation industry with improved mapping technology and will usher in Plentywaka’s expansion to many other states including the nation’s capital.

It will also go into improving customer experience by providing more accurate and precise tracking for journeys and facilitating faster and simpler payment options for all of Plentywaka services through a partnership with fintech platforms. 

Plentywaka has recognized that over 70% of the people in Abuja rely on public means of transportation and with the absence of a reliable and robust system to cater to these people, the company will be launching in Abuja with free travel for an entire week starting August 4th to 11th, 2020.

Since launching in September 2019, Plentywaka has grown from being a newly introduced ride-hailing service to serving a customer base of over 40,000+ users, with 41,000+ downloads on its mobile App and achieving a milestone of 145,000 rides in just eleven months of launch.

The secret to Plentywaka’s success lies in providing an efficient transportation alternative that is steered by technology and also creating innovative solutions to challenges in the transportation market. Despite the COVID- 19 pandemic, Plentywaka has ensured the provision of excellent service by introducing services like Logistics by Plentywaka and the Staff Bus to serve commuters better.

Johnny Enagwolor, Managing Director and Co-founder at Plentywaka said: “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 transportation 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 transportation in Nigeria, one state at a time.”

Plentywaka app is available on Google Playstore and IOS App store is easy to use and requires only a two-step process to reserve a seat on a bus and schedule a journey for easy movement in and around cities. 

In response to and compliance with regulations concerning the COVID- 19 pandemic, Plentywaka assures its users of regular fumigation of its buses, provision of sanitizers, the enforcement of a no-mask, no-entry policy and other safety precautions. In addition, the Waka Purse: an e-wallet payment feature on the app, further eliminates the need to exchange cash which drastically reduces the possibilities of transmission.

Dayo Koleowo, Partner at Microtraction said: “Plentywaka’s rapid growth since they launched Q3 last year has been tremendous so far. 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”

Plentywaka is currently looking to partner with individuals, corporate bodies, and state governments who are willing to bring their vehicles to join the Plentywaka Vehicle Partnership Scheme. Registering a vehicle on the platform is free and provides an opportunity of creating an extra stream of income, while simultaneously assisting in advancing Nigeria’s transport system.