TechPression

Tag: Treepz

  • Treepz eyes global mobility leadership through TAP participation in Toronto

    Treepz eyes global mobility leadership through TAP participation in Toronto

    Treepz, a leading corporate mobility startup in Africa, has embarked on an exciting global expansion journey by participating in the 2024 Trade Accelerator Program (TAP) organised by the World Trade Centre in Toronto, Canada. 

    After announcing this project on Wednesday, Treepz hopes to exhibit its innovative mobility solutions worldwide. With the global mobility market changing and the need for efficient transportation solutions rising, Treepz may use this opportunity to grow its services and reach. It will give the firm the tools and guidance to traverse international markets and become a global mobility leader.

    Read also: Orange Egypt injects $52.7M into Africa’s thriving startup ecosystem

    Treepz leverages program for international growth

    The Trade Accelerator Program is designed to assist high-potential small and medium-sized enterprises (SMEs) strategically scale their operations globally through personalised mentorship and workshops. Treepz’s selection for this prestigious program underscores its commitment to expanding its footprint beyond Africa.

    Onyeka Akumah, Founder and CEO of Treepz, expressed enthusiasm about the opportunity, stating, “The TAP Tech Toronto program is an invaluable opportunity for Treepz to further showcase new Indigenous ideas we have for our customers on a global scale.” He emphasised that this recognition is a testament to the team’s dedication to providing innovative solutions that meet customers’ diverse needs.

    Since its inception in 2019, Treepz has made remarkable strides in the African mobility sector by offering tech-enabled vehicle rental solutions across Nigeria, Uganda, Ghana, and Kenya. The startup has successfully served over 5 million customers, providing guest transportation, school bus shuttling, and airport transfers.

    Read also: Salesforce expands to Nigeria, appoints Sandra Adesuwa Ebere

    Treepz pioneers cross-border travel in Africa

    Treepz has made history by becoming Africa’s first corporate mobility startup to complete an international cross-border rental trip. This milestone involved transporting 96 passengers between Lagos and Cotonou in August 2024. Akumah noted, “This is a momentous occasion for Treepz. We are excited to be pioneers in cross-border transportation and to demonstrate our capacity to meet the growing demand for efficient mobility solutions across Africa.”

    The company’s participation in the program will enhance its ability to export innovative mobility solutions globally. By leveraging the mentorship and resources provided by the program, Treepz aims to refine its business strategies and expand its network of international partners.

    As Treepz continues solidifying its position as a leader in the African mobility landscape, this global expansion initiative represents a significant leap towards realising its vision of becoming a world-class mobility company. With plans to take African-grown solutions to international markets, Treepz is poised to redefine transportation needs not just within Africa but also on a global scale.

    Also, Treepz’s participation in the Trade Accelerator Program was crucial to its global expansion. Treepz will revolutionise business mobility and boost Africa’s global influence by demonstrating its unique solutions and learning from industry experts.

  • Octamile, Treepz launch “Treepz Care” insurance plan

    Octamile, Treepz launch “Treepz Care” insurance plan

    Treepz, the biggest car-sharing marketplace in Africa, has teamed up with Octamile, an African insurance tech company, to create Treepz Care.

    The new insurance plan will give Treepz’s active community of guests and hosts complete security and peace of mind.

    Read also: Treepz appoints four new board members

    Why this is important

    Insurance is a vital part of the car rental business, and travelers’ choices are significantly affected. A study by the Insurance Information Institute found that 62% of people renting a car from a service thought about their insurance policy.

    Octamile is a company that has become a leader in the digital insurance business over the years. We are excited to work with them to bring Treepz Care, an insurance program for guests and hosts who use their marketplace.

    About Treepz Care

    Treepz Care includes a range of protection services for both guests and hosts, such as

    Protection for guests: coverage for events that cause death, injuries, or disabilities. Some perks are death benefits, coverage for permanent disability, and medical costs.

    Host Protection: Accident insurance for drivers that covers all kinds of events, such as deaths, injuries, and disabilities. Death benefits, permanent disability coverage, and hospital costs are all benefits.

    Comprehensive Insurance: Coverage for own vehicle damage, third-party liability, and theft. Some benefits are that the item can be fixed or replaced if it gets broken or stolen, and the item can be fixed or replaced if it gets stolen.

    Third-Party Insurance for Car Owners: Coverage for events involving third parties, including death, injuries, and disabilities. Benefits include paying for the funeral and hospital bills, as well as getting paid for the loss of personal items.

    How It Works

    Treepz has integrated guest protection coverage into the booking process to simplify visitor insurance adoption.

    During onboarding, hosts can opt-in for host protection, third-party car insurance, and comprehensive vehicle insurance through their host account in the app or by emailing business@treepz.com for customized onboarding.

    Tourism is important in Nigeria, Ghana, Uganda, and Kenya. Car rental services help travelers confidently explore these different regions. With complete insurance, Treepz Care strives to improve this experience for travelers and hosts.

    Treepz, the only African car-sharing marketplace with incorporated insurance for car rentals, is devoted to becoming the largest. Treepz Care’s purpose emphasizes safety and customer pleasure.

    Treepz CEO Onyeka Akumah was excited about the relationship, emphasizing travel and mobility safety. Octamile CEO Gbenro Dara reiterated these thoughts, emphasizing their shared goal of Treepz user safety and comfort of mind.

    This alliance advances the travel and mobility business by meeting African consumers’ changing needs. Treepz Care reflects Octamile and Treepz’s passion for insurance innovation and client service.

  • Treepz appoints four new board members

    Treepz appoints four new board members

    Treepz, an online rental marketplace in Africa, has appointed four new board members. Jane Egerton-Idehen, a former manager at Facebook when it was owned by Meta, and Adejare Rasheed Olaoluwa, a former head of Nigeria’s Bank of Industry, are two of the new members. Treepz says that the new people will help the company grow quickly in the next few months, which is one of its goals.

    In a news release, the company also said that the appointments were part of a plan to increase the value of the company’s shares. After adding new board members, the brand also wants to grow in a sustainable way.

    Treepz said that its board was very important to making sure the business stayed true to its original goals. The goal of this strategy is to make the best use of Africa’s 26 million cars.

    The formal statement says that Ebenezer Arthur and Laura Venasse are the other two new board members. It’s important to note that while Arthur and Olaoluwa are members, Venasse and Egerton-Idehen hold the positions of Secretary and Board Chair, respectively.

    Read also: Treepz pivots becomes car-sharing marketplace for Africa

    Treepz board members

    Treepz’s board member, Ebenezer Arthur, has 18 years of experience in sales, transportation, and technology. He is also the Managing Partner of Wangara Capital Partners, which is a job he does on the side. He is also the Managing Director at Wangara Green Ventures, which is an interesting fact.

    Wangara Green Ventures is an investment company that wants to help Ghana in good ways through clean energy, waste management, and energy efficiency. The official release said, “Ebenezer’s deep knowledge of impact investing and business acceleration will be important to Treepz’s future growth.”

    Adejare Rasheed, a former managing director at Nigeria’s Bank of Industry, is the next speaker. Treepz said that his skills in strategic management and investments would be a big part of the company’s goal to grow in a way that is viable.

    Laura Venasse, who is the board secretary, has a lot of legal knowledge, especially in the area of mergers and acquisitions. So, her knowledge of the law should help the company work in the right way.

    Jane Egerton-Idehen is an experienced angel investor and strategic consultant. She used to be in charge of sales for Meta’s Middle East and Africa business. People think that Treepz’s business will go in a good direction because of her vast knowledge of the telecoms industry and her leadership roles at Nokia Siemens Network and Ericsson.

    African mobility firm, Treepz rebrands consumer app

    Treepz’s desire for business growth

    The company said that it planned to change how it did business in the fourth quarter of 2022. It was especially about being responsible with money. After making that business change, they said they cut their monthly running costs by a huge 80%.

    It also made 77% more money from quarter to quarter. Treepz says that its profit margin has grown by 98% since Q1 of 2023. Treepz said that with the new board members and a clear plan, it will work to “revolutionize car-sharing across Africa, bringing more value to its stakeholders, customers, and partners.”

  • Treepz pivots becomes car-sharing marketplace for Africa

    Treepz pivots becomes car-sharing marketplace for Africa

    Treepz, an African mobility company, has changed its business model to become a car-sharing marketplace where car owners may list their cars for hire.

    The business claims that this shift is a more cost-effective and long-lasting solution for transportation in Africa. 

    With this decision, Treepz hopes to reimagine its mobility company in a relatively untapped market. 

    The basic idea is that there are 44 automobiles for every 1,000 people in Africa, showing that there is a significant need for accessible transportation. 

    By enabling customers to borrow a vehicle just when they need it and for rental durations varying from hourly to monthly usage, Treepz seeks to close this gap. 

    Read also: African mobility firm, Treepz rebrands consumer app

    How Treepz car-sharing marketplace works

    Cars may be hired via the app for between 30,000 ($65) and 93,000 ($210) per day, but the business thinks that as more vehicle owners sign up for the system, pricing competition will further reduce costs for customers. 

    Onyeka Akumah, the Chief Executive Officer of Treepz, explained how the company’s current emphasis is addressing the problems faced by automobile owners and renters on the continent in a statement sent to TechCabal. 

    “The new Treepz is an exciting innovation for transportation in Africa. We are making better use of more than 26 million vehicles available on the continent to provide commuters with enjoyable and fun transportation service as they travel for work or simply enjoy a smooth ride across the safaris in the continent,” CEO said. 

    Akumah explained further that “Treepz is “regarded as the largest car-sharing marketplace in Africa and we have seized that opportunity with the technology we’ve built for hosts (vehicle owners or rental companies) to manage their inventory, reach new customers and track their growth. While guests who book from these hosts have the luxury to select their dream car for work, pleasure or exploration with a vetted driver.” 

    According to the press release, Treepz has been developing its marketplace product for the last five months and is now making it available to consumers in Nigeria, Ghana, Uganda, and Kenya. 

    This car-sharing marketplace, which according to Treepz is the biggest in Africa, is home to a range of cars, including sedans, SUVs, vans, and buses. The business strategy has verified vehicle owners or “hosts” establish their chosen rates and availability while renters or “guests” choose their desired automobiles based on location and length.

    The car-sharing industry in Africa is still in its infancy, with few active participants and practically any market leaders. Treepz thinks that with its solution and the knowledge it has gained from operating in African countries, it can establish itself as a market leader in the region’s emerging car-sharing industry.

    Treepz Announces Kenya Entry With $1.2 Million in Funding

    In response to the challenge presented by the widely used ride-sharing model and operators, Johnny Enagwolor, co-founder of Treepz, discussed some competitive benefits of the startup’s approach in an interview with TechCabal.

    “From a user standpoint, the pricing is better with our car-sharing model. Ride-hailing companies would charge a lot for a full day’s ride, compared to the daily offers on our platform. Also, we have a collection of cars—including trucks and luxury cars—that are not typically used for ride-hailing, thereby expanding the choice for our users. Finally, we are operating at a wider scope, with a system that can operate in more cities than the ones ride-hailing companies are choosing to focus on.”

    Enagwolor also said that Treepz’s car-sharing service is not entirely new to the business since they had already tested the idea out for a few clients, although in a non-digitized play. “We eventually looked closely at the company to determine which model was providing us with the highest profits and could grow most effectively. Then we made the decision to fully switch our direction to car-sharing,” he said. 

    By purchasing mobility businesses in Ghana and Uganda, Treepz generated $2.8 million in 2021 and expanded the scope of its portfolio of mobility solutions. It offered three key services in Nigeria: a corporate mobility solution for companies, an intercity transport option, and a minivan-Uber-like service. 

    In order to concentrate on this new mobility vertical and pursue its goal of becoming Africa’s leading car-sharing marketplace, the business is now retiring its earlier models.

    Onyeka Akumah created Treepz in 2019 with the support of well-known financiers including Google, SOSV, Goodwater Capital, Techstars, and GIIG Africa Fund.

  • African mobility firm, Treepz rebrands consumer app

    African mobility firm, Treepz rebrands consumer app

    The most successful mobility firm in Africa, Treepz, has rebranded its app targeted towards end users as an innovative new product for the African market.

    It is the first marketplace of its kind in Nigeria, Ghana, Kenya, and Uganda, and it was established with the intention of catering to the more than 26 million people in Africa who already own vehicles. 

    The online marketplace makes it possible for auto owners to rent out their vehicles for periods ranging from one week to one year, making mobility in Africa a more inexpensive and environmentally friendly option.

    Read also: Treepz Announces Kenya Entry With $1.2 Million in Funding

    According to the Figures

    The demand for low-cost modes of mobility is great across the continent of Africa because there are more than 600 million people living in metropolitan areas but only 44 cars for every 1,000 people.

    This requirement is met by the car-sharing platform offered by Treepz, which gives users the ability to borrow a vehicle only when they have a pressing need for one and to select from a variety of rental durations. 

    This contributes to the reduction of both congestion and carbon emissions, resulting in a transport system that is more environmentally friendly.

    From 2020 to 2030, the market for car-sharing in Africa is anticipated to expand at a compound annual growth rate of 20%, resulting in a predicted market value of $500 million.

    Treepz, which is the largest car-sharing marketplace in Africa based on the market size of their operations, is in an excellent position to capitalise on this expansion and provide residents of all countries on the African continent an option for transportation that is both economical and environmentally friendly.

    Concerning the Re-Launch

    The marketplace can be accessed through iOS and Android and features a selection of automobiles, including hatchbacks, sports utility vehicles (SUVs), vans, and buses. Renters have the ability to search for vehicles by entering their location and desired rental period, after which they can select from a list of different car owners, brands, and models.

    Car proprietors have the opportunity to control a variety of aspects of their businesses, including pricing, availability, and discounts for extended booking periods.

    Notable companies such as Wakanow and Tekexperts in Nigeria, Twiga Foods and Diamond Trust Bank in Kenya, and many more organisations in Africa have already been using the Treepz solution for their staff, but now Treepz is rolling out the consumer side of the service to make it easier to rent vehicles. This will make it possible for more people to have access to rental vehicles.

    Credibility is added to both the company and its new marketplace by the fact that Treepz is supported by renowned investors such as Google, SOSV, Goodwater Capital, Techstars, and GIIG Africa Fund, amongst others.

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    Remarks From the CEO of Treepz

    According to Treepz’s CEO, Onyeka Akumah “The new Treepz is an exciting innovation for transportation in Africa. 

    We are making better use of more than 26 million vehicles available on the continent to provide commuters with enjoyable and fun transportation service as they travel for work or simply enjoy a smooth ride across the safaris in the continent.’

    “Today we are regarded as the largest car-sharing marketplace in Africa, and we have seized that opportunity with the technology we’ve built for hosts (vehicle owners or rental companies) to manage their inventory, reach new customers and track their growth. 

    While guests who book from this host have the luxury of selecting their dream car for work, pleasure or exploration with a vetted driver. We have spent the last 5 months building this solution and we are excited to introduce you to this in Nigeria, Ghana, Uganda and Kenya.” 

    “Treepz is at the forefront of this important movement with guest and host enjoying their commute on the continent. Our goal to listen to our customers and keep making them happy with every trip they make with us at Treepz.” She added.