Kobo360, an e-logistics hauling firm has raised the sum of $30 million dollars to help vehicle owners and cargo recipients.
The funding is a collective effort of a $20 million Series A equity round backed by Goldman Sachs and a $10 million working capital acquired from Nigerian banks.
Kobo360 is the beneficiary of a Series A funding from Asia Africa Investment and Consulting, TLcom Capital, Y Combinator and the International Finance Corporation.
Value extension: Kobo360 is looking to extend its services, from providing hauling services for articulated vehicles to delivery, while extending its operation to 10 new countries beyond the reach of Kenya and a vibrant West African market trio of Nigeria, Togo and Ghana. It also plans to hire 25,000 drivers to power their ever-growing fleet.
To be able to achieve this growth expansion, Kobo360 is looking to explore the African’s Continental Free Trade Area Agreement (AfCTA), signed by all African countries to promote Pan-African economic activities.
With a renewed interest of customer service in the era of innovation, Kobo360 launched its app with a view to offering services in pidgin and Hausa, making it easy for users to communicate effectively and take advantage of their products.
New products added: They have also added KoPay, KoboSafe Insurance and KoboCare – a range of services that stretches from driving services to insurance and HMO packages.
Global outlook: With the company’s growing interest in mobile technology, it is looking to make use of a certain part of the $30 million funding to create a global logistics operating system tagged GLOS making the company’s services global in its outlook.
“We are definitely thinking global, we just want to make sure we close out our home market first,” Obi Ozor, Co-founder of Kobo360 said.
Launched by Obi Ozor and Ife Oyedele, Kobo360 is a hub that connects shippers and transporters. As a digital logistics platform, it harmonizes hauling efforts to help cargo owners, truck owners and drivers to enjoy free flow in the supply of service.