Nigeria-based Shuttlers raises $1.6M in seed funding
Nigeria-based Shutters raised $1.6 million in its seed round of funding led by VestedWorld. The round also saw participation from Interswitch, Rising Tide Africa, Launch Africa, EchoVC, Consonance Investment, CcHub Syndicate, CMC 21 & Alsa, ShEquity, Five35, Sakore, and Nikky Taurus.
“Our mission is to transform the way people commute around the world by building a global partner network and connecting communities of shuttlers like we are presently doing in Lagos, Nigeria,” Shutter founder Damilola Olokesusi said in a statement.
The company was founded in 2016 to address the inefficient transportation costs in Lagos. It functions as a ridesharing platform and provides companies with better mobility options for employees.
“We were not actively looking for investors; however, there is now more attention in the shared mobility industry because of companies like SWVL. Now, investors are interested in this and think local mobility plays can be valuable solutions,” Olokesusi added. “We just made the right decision for the company at this particular right time so we can get ready for the opportunity that happens after. Now we are ready to take over the African market, starting with Nigeria and West African markets in the next couple of months.”
Also Read
Follow Startup Story
Related Posts
