• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content

Treepz Raises A Total Of $2.8m In Its Seed Round To Fuel Expand Into E/Africa

Femi by Femi
November 23, 2021
Home Nigerian/African Tech
Share on FacebookShare on Twitter

Mobility platform Treepz, formerly known as PlentyWaka has raised a total of $2.8 million in its seed round after an extension round that saw the company raise $1.5 million. In August, the mobility company raised $1.3 million in an original seed round. That same August, the company acquired Stabus and announced that the funds it acquired from the seed round will be used to handle the growing amount of work, as well as increase and improve its services and its general business operations.

Also On TechBooky

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

South Africa Plans Digital Currency In Future As It Seeks To Regulate Crypto Assets

IPOB: The Nigerian Govt Warns Facebook About Allowing Separatist Content

The company had an extension of its seed round so as to raise more funds needed to fuel its expansion plans. The seed extension round saw the participation of investors such as Japan’s Uncovered Fund, Egypt’s Jedar Capital as well as  Dubai-based Blanford Capital and Jonomi Capital. After raising the initial seed round, the company acquired Ghana’s Stabus and had eyes on other African territories. Following the seed extension round, the company has acquired Ugabus. Ugabus is an Ugandan mobility company that aggregates inter-city bus operators. The terms of the deal between Treepz and Ugabus were not disclosed but according to co-founder and CEO of Treepz, Onyeka Akumah, the acquisition was funded with what was raised from the seed extension round. Following the extension round, the total amount of money raised by Treepz in its seed round is $2.8 million.

Treepz acquisition of Ugabus will be its emergence into the East African market. Ugabus, starting December 1 will be known as Treepz Uganda. The acquisition of Ugabus gives Treepz complete ownership of all its operations and staff. Ugabus is a huge contender in the country and has about 70 percent of Uganda’s bus operators on its platform, as well as a customer base of 50,000 using the platform to travel to and from cities in the country.

Speaking about the move, the mobility company’s CEO said that “We’ll be able to service most of the major cities in Uganda, but the good thing about East Africa is they have very seamless borders between the countries, so it’s easy to move from Uganda to Rwanda, Uganda to Tanzania, Tanzania to Burundi, and so forth”.

Explaining further, he added that “the plan is to extend into Tanzania and Burundi first. Those are places we will pay attention to next year. We are also really interested in Ethiopia. So the same thing we were doing with Ghana, across Ghana to Togo and Benin from Nigeria for the West African region. So next year, we will consolidate on our positions on East Africa and West Africa and start collapsing into on in Sub Saharan Africa.”

A statement from the CEO and general partner of Uncovered Fund, Takuma Terakubo, read “Treepz is building the most important mobility infrastructure in Africa’s megacities. The development of public transportation is essential in African countries where urbanization is advancing.”

According to Treepz’s CEO, the trust bus operators and even users have in its services continue to increase as time goes by. “Bus operators are starting to see us as a technology partner against the competition. The Treepz technology as an inventory management system can now be used by the bus operators to power their different systems. And that in turn, turns out to be a tremendous opportunity for growth for us. So we see a future where we aggregate bus operators from city to city, and we also work with bus operators within cities. It just grows the numbers over time around the transactions that happen on our platform”.

Treepz, apart from the money it raised from its seed funding round recently received funds from Google’s Africa Investment Fund. The company will use this fund for expanding its on-demand and inter-city bus ticketing services. Treepz plans on expanding to the whole of Africa, building a strong and reliable network, before it starts out on its dream of a global expansion.

Related Posts:

  • Nigeria's ThankUCash, A Loyalty Rewards Startup Raises $5.3m
    Nigeria's ThankUCash, A Loyalty Rewards Startup Raises $5.3m
  • Nigeria's Prospa Secure Africa's Largest Ever Pre-Seed Funding Round
    Nigeria's Prospa Secure Africa's Largest Ever Pre-Seed…
  • Egypt Based MoneyHash Raises $3m In Pre-seed Funding
    Egypt Based MoneyHash Raises $3m In Pre-seed Funding
  • Nigerian Logistics Startup Topship Closed A $2.5m Funding Round
    Nigerian Logistics Startup Topship Closed A $2.5m Funding…
  • Kenya's Zanifu Raises $1M In Seed Funding, Plans Upgrade
    Kenya's Zanifu Raises $1M In Seed Funding, Plans Upgrade
  • Morocco's Chari Secures Bridge Funding At $100 Million Valuation
    Morocco's Chari Secures Bridge Funding At $100 Million…
  • Moove Gets $105m Series A2 Funding To Spread Across Asia, Europe And The MENA Region
    Moove Gets $105m Series A2 Funding To Spread Across Asia,…
  • Chipper Cash Raises $150m, Valued At $2b, Becomes Unicorn
    Chipper Cash Raises $150m, Valued At $2b, Becomes Unicorn
Tags: fundingmobilitystartuptreepz
Previous Post

Crypto Startup MoonPay Raises $555m In First-ever Financing Round

Next Post

Zoom Makes Compulsory PWA for Chrome OS Users

Femi

Femi

Paul Balo is a wireless communications technologist with interests in VoIP and 5G technologies. He leads the writing team at TechBooky

Next Post
Zoom Announces New ‘Focus Mode’ To Reduce Distractions

Zoom Makes Compulsory PWA for Chrome OS Users

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022
Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

Kenya’s Mobile-first Enterprise Software Startup Bamba Raises $3.2m

May 20, 2022
South Africa Plans Digital Currency In Future As It Seeks To Regulate Crypto Assets

South Africa Plans Digital Currency In Future As It Seeks To Regulate Crypto Assets

May 20, 2022
IPOB: The Nigerian Govt Warns Facebook About Allowing Separatist Content

IPOB: The Nigerian Govt Warns Facebook About Allowing Separatist Content

May 20, 2022
US Department Of Justice Will No Longer Prosecute Good-Faith Hackers

US Department Of Justice Will No Longer Prosecute Good-Faith Hackers

May 20, 2022

Browse Archives

May 2022
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Apr    

Receive top tech news directly in your inbox

Loading

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,981 other subscribers.

Popular Tags

AI (224) android (259) app (531) Apple (419) artificial intelligence (232) business (261) china (111) cloud (125) cryptocurrency (133) ecommerce (104) enterprise (226) facebook (459) gadget (383) gaming (145) google (521) government (361) guest post (108) instagram (129) internet (319) ios (217) iphone (178) microsoft (249) mobile (247) new feature (237) nigeria (265) privacy (124) research (131) samsung (125) security (345) smartphone (198) social media (623) software (364) startup (230) streaming (127) telecom (152) tips (306) transport (98) twitter (190) uber (88) united states (178) users (92) videos (105) website (135) whatsapp (123) youtube (98)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Top 2 Methods To Convert CSV To vCard/VCF In 2022

Top 2 Methods To Convert CSV To vCard/VCF In 2022

February 2, 2022
How Can We Unlock VBA Project Password Without Hex Editor?

How Can We Unlock VBA Project Password Without Hex Editor?

December 23, 2020
Recover Deleted Messages from Thunderbird Email

Recover Deleted Messages from Thunderbird Email

April 7, 2020
[Fixed] “Outlook Running Slow Windows 10” Issue

[Fixed] “Outlook Running Slow Windows 10” Issue

February 12, 2020
How is Technology Changing Our Definition of What It Means to Be a Human?

How is Technology Changing Our Definition of What It Means to Be a Human?

April 1, 2018
Samsung Unveils New Mid-range Devices With Expanded Batteries

Samsung Unveils New Mid-range Devices With Expanded Batteries

March 18, 2022
Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022

Recent News

Facebook Changes Company Name To Meta As It Plans Big On VR

Amazon Exec Takes A Swipe At Zuckerburg’s Metaverse Fantasy

May 21, 2022
Qualcomm’s Introduces All New Wireless AR Smart Glasses

Qualcomm’s Introduces All New Wireless AR Smart Glasses

May 20, 2022
Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

Canada Bans The Use Of Huawei and ZTE Equipment In Its 5G Networks

May 20, 2022
Top 5 Effective Ways Of Link Building

Top 5 Effective Ways Of Link Building

May 20, 2022
Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

Nigerian Logistics Startup Topship Closed A $2.5m Funding Round

May 20, 2022
Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

Nigeria’s Autochek Acquires Morocco’s KIFAL Auto

May 20, 2022
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite

Posting....