Treepz, a Nigerian mobility startup, has launched operations in Kenya and has announced investments of USD 1.2 million over the past year.
Treepz, a Nigerian mobility startup, has announced its expansion into Kenya and the securing of USD 1.2 million in funding over the last 12 months. The company already operates in Nigeria, Ghana and Uganda. Treepz was initially known as Plentywaka and was founded in 2019 by Onyeka Akumah, John Atumeyi Shaibu, Johnny Enagwolor and Oluseyi Afolabi.
Treepz: Daily rides and services for bus operators
The company’s digital platform allows passengers to book daily rides along fixed routes and also serves as an aggregator for bus companies in a series of Nigerian cities. The aggregator solution allows bus operators to replace servicing and ticketing services with digitized offerings and service.
The latest round of funding was raised with the support of GIIG Africa Fund, MoAngels, Roselake VC, Unpopular VC, Goodwater Capital and BKR Capital. Existing investors, including ShockVentures, Winston Limited, Aston Investments and Novum Actus made follow-on investments.
Treepz plans to use the additional funds to fuel further expansion into East Africa.
Building a centralized solution
“This was made possible with the support we received from our current investors amid a turbulent 2022. After winning the GSA African Award in Cape Town last year, we received funding from its funding arm GIIG Africa Fund, and that was also very timely for us,” said Onyeka Akumah, co-founder and CEO of Treepz.
“Today, our efforts are focused on building a centralized solution across the four countries we operate in and to provide Africans with excellent mobility services, for their personal and business needs. We hope this will be the experience Kenyans will enjoy with our service and remember, as we build a world-class mobility business for Africans and the rest of the world,” he said.
Fueling the movement of people and goods
Jo Griffiths, co-founder of GIIG Africa, claimed that international agreements such as the African Continental Free Trade Area (AfCFTA) made investment in mobility solutions increasingly attractive, “These policies will result in a significant increase in the movement of people, goods and services, and as such there’s going to be an even greater demand in the coming years for mobility solutions built for the African context. As investors, we’re excited to be working with the team behind Treepz because we see mobility tech as a key enabling factor for Africa’s socio-economic growth. For now, we look forward to supporting their efforts aimed at empowering Kenyan commuters,” she said.
African mobility companies, including ThinkBikes, Electric Mobility and Moove have been increasingly attracting interest from international and regional investors.