Treepz, a startup in the mobility industry, has announced its entry into Kenya as well as an extra $1.2 million in funding from both new and existing investors.
The firm announced that it had raised $1.2 million over the previous 12 months from the GIIG Africa Fund, MoAngels, Roselake VC, Unpopular VC, Goodwater Capital, and BKR Capital. Shock Ventures, Novum Actus, Aston Investments, and Winston Limited, who are already investors, also took part.
With the opening in Kenya, Treepz has bases in four nations, making Kenya its second East African base. The startup also conducts business in Ghana, Uganda, and Nigeria, where it was founded.
Samar Patel has been hired by Treepz as its Country Manager to help the company expand in the nation of East Africa. He was Swvl’s Head of Transport as a Service and Software as a Service before joining Treepz.
In a statement shared with interviewers, Onyeka Akumah, the startup’s Co-Founder and CEO, said, “We are thrilled by the addition of Samar to our team and the launch of Treepz Kenya in Nairobi. Today, our efforts are focused on building a centralized solution across the four countries we operate in and providing 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.”
As a bus-hailing platform in Nigeria, Treepz was established in 2019 by Akumah, Johnny Ena, Afolabi Oluseyi, and John Shuaibu. At the time, a bus reservation service called Plentywaka offered consumers in the busy city of Lagos an easy option to do so. Before its debut, Opera-backed OBus had already started operating, and Egyptian company Swvl had expanded to Nigeria.
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Treepz Engagements Over The Years
The startup established a logistics division in 2020 because fewer travels were made due to lockdowns brought on by COVID-19. By 2021, the business had acquired Stabus, a Ghanaian mobility startup, collected $1.2 million from investors, and joined Techstars.
Furthermore, it announced plans to expand to Canada later that year, albeit not much is known about its operations in that country. The startup has conducted 2.7 million journeys since its founding, including 1.6 million travels in the previous calendar year.
Following these significant victories, Treepz partnered with CMS Taxi and Motor Nigeria Limited (CMS T&M), a traditional bus business based in Lagos, to use its technology to offer better payment alternatives and trip time management.
To give Bus Parks and Bus Operators the technology they need to digitize their services while expanding their clientele and managing revenue, it launched the Transportation Operator System.
Although there are many companies in Africa’s fragmented transportation industry, the conditions for commuting still need improvement. In Lagos, where Treepz was founded, decrepit buses continue to be the principal mode of transit for most citizens. All of this offers a chance for companies looking to digitize the industry.
BuuPass, a company formed in Kenya, revealed this week that it has raised a pre-seed round to expand its booking platform. However, raising a pre-seed round seven years after it began operations may highlight the challenges of competing in the same market that Treepz aims to occupy. Swvl’s attempt to reverse a 2022 purchase may also provide some useful lessons.
Though Jo Griffiths, Co-Founder of GIIG Africa, expressed his organization’s delight in working with Treepz, Treepz’s investors appear to be convinced of the startup’s potential.
Treepz’s Achievements So Far
However, Treepz, like many other businesses, just about made it through the 2020 global pandemic-related economic crisis. But over the previous two years, it has accomplished a significant milestone. In less than two years, it has helped its riders commute more than 480,000 times and attracted over 960 automobiles to its platform.
The firm says that as of November 2021, it has over 2 million customer rides performed across East and West Africa with over 150,000 registered passengers and over 2,000 drivers (heroes). The firm announced about 11 months ago that it had reached the milestone of 1 million completed bookings across the three countries where it is currently active.
GIIG Africa’s investment is one of the significant investments that has significantly assisted the startup in growth, and it enabled them to win the 2022 African Startup Awards as the Industry Tech company of the year.
Business Treepz is a new service designed to provide bus rental services in a structured, approachable, and consistent pattern to businesses, educational institutions, tour operators, and private individuals. The company announced plans to launch Business Treepz during the celebration of its third anniversary.
