Dealflow | August 31, 2021

Plentywaka and Kai Senegal raise funds to shake up West African transport

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, August 31 – Communal ride-hailing service Plentywaka helps bridge gaps in Nigerians’ daily commute with transport to and from bus stations. The company secured seed funding of $1.2 million and acquired Stabus, a similar service based in Accra, to expand into Ghana. The round was backed by Techstars, SOSV, The Xchange in Toronto and others.

Plentywaka’s raised pre-seed funding last year, which helped it add a logistics service when COVID impacted its ride-hailing business. 

Kai Senegal offers a ride-hailing app for taxi drivers and fleet operators, as well as vehicle financing for drivers. Kai, which launched in 2018, raised an undisclosed amount of funding from Toyota Tshusho’s Africa-focused venture fund Mobility 54. The fund has backed more than 50 African mobility companies, including Uganda’s Tugende and Kenya’s Data Integrated.

Beyond Africa

Shared-ride hailing service Swvl, which launched in Cairo in 2017, has acquired Barcelona-based Shotl, which provides on-demand bus and van services in Europe, Latin America and Asia.

Swvl, now based in Dubai, plans to go public on Nasdaq via the special purpose acquisition company Queen’s Gambit Growth Capital.