ShapShap, Nigeria’s on-demand delivery startup has secured a seed extension investment to grow the logistics business.
The new funding is an investment of V8 Capital Partners through its Growth Labs Fund I and adds up to the undisclosed seed investment the startup received from Germany-based GreenTec Capital Partners last year.
The new funding is expected to accelerate expansion as the startup looks to grow its last-mile delivery for businesses and individuals in Nigeria as well as enter other African countries.
What they are saying
Khalil Halilu, CEO of ShapShap said the company is committed to cracking the last-mile challenge in Africa whilst appreciating the startup’s partners, investors and stakeholders who are on track to make this work.
He said, “Technology is aiding the ability for businesses globally to reach their consumers faster, and Africa is no different. We are building IP that makes last mile logistics more effective. We have noticed a significant spike in distribution of goods and services through online channels and are committed to helping our clients succeed.”
Tobi Oke, managing partner at V8 Capital Partners said, “ShapShap’s unique approach to last mile logistics and Khalil’s proven track record presents a unique investment opportunity. We are excited to partner with Khalil across various verticals working with several portfolio companies to deliver fully automated last-mile delivery infrastructure.”
What you should know
- ShapShap on-demand motorbike delivery service was founded in 2019 and uses data and mobile technology to facilitate same-day delivery service.