Plentywaka garners $300,000, shops for partners as it launches operations in Abuja

Adebayo Obajemu

As a way of fast-tracking it’s expansion plan, fast-growing delivery startup, Plentywaka, has raised $300,000 pre-seed investment.

In a statement by the company, the funding was led by EMFATO, Microtraction, and Niche Capital.The development will facilitate the company’s planned expansion into the Federal Capital Territory Abuja and other Nigerian states.

The statement said the funding will be deployed to transform the transport system in Nigeria. Plentywaka will improve its mapping technology, especially now that it is kicking off activities in other states and the FCT.

Speaking on the investment and launch, Co-Founder and Managing Director, Johnny Enagwolor, said that Plentywaka is out to transform transportation in Nigeria by taking it one state at a time.

“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 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,” he said.

In his own take on the investment, Dayo Koleowo, a 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 in search of partners who are willing to bring their vehicles on board by joining the Plentywaka Vehicle Partnership scheme.

The partnership involves Plentywaka working with individuals, corporates, and state governments to expand its technology and fleet in order to provide better transportation services.  Just like other cab-hailing services, registering a vehicle on the platform would provide the partners with an opportunity to earn extra income.

Recall that the e-bus hailing company, launched in September 2019, was funded by Crowdyvest. Since then, the company has built a platform of over 40,000 customers and recorded its first 100,000 rides in six months.