Nigerian lady, Damilola Olokesusi who is the founder of Shuttlers has raised $1.6 million capital from various funders to help invest in Nigeria’s transport sector with plans to extend to other parts of Africa.
She started the business in 2016 after she saw the need to curb transportation problems in Nigeria. Transportation in Lagos especially has been a major issue considering its large population of over 15 million people. With the creation of Shuttlers, people are now offered the opportunity to book their rides and have access to bus tracking, digital and advanced payments.
With over 100 branded and unbranded buses, close to 3000 people are transported across the city each day. Their journey cut across various routes and bus stops which has totaled over a million trips since inception.
According to a report by Techcrunch, Shuttlers has been able to garner the sum of $1.6 million from investors within Nigeria and outside. These investors include Vested World, Rising Tide Africa, Launch Africa, Echo VC, Consonance Investment, CcHub Syndicate, CMC21&Alsa, ShEquity and others.
Olokesusi said, ”we were not actively looking for investors; however, there is now more attention in the shared mobility industry because of companies like SWVL. Now, investors are interested in this and think local mobility plays can be valuable solutions. We just made the right decision for the company at this particular right time so we can get ready for the opportunity that happens after. Now we are ready to take over the African market, starting with Nigeria and West African markets in the next couple of months.”
The business has moved from beyond Lagos and gone into the capital of Nigeria, Abuja. With the new funding on ground, there are plans to extend it into the West African country of Ghana.