Treepz, an Ontario-based transportation company, has raised $ 2.8 million seed financing Expansion across Africa while digitizing the region’s public transportation system.
The funding round was attended by Japanese companies such as VC, Uncovered Fund, Blanford Capital, Jedar Capital and Jonomi Capital. The capital brings the total funding raised by Treepz to $ 3.1 million. Takuma Terakubo, CEO and General Partner of Uncovered Fund Inc, referred to the round:
“Treepz has impressed us with its outstanding traction in the latter part of the year and is ready to expand even further, especially through strategic partnerships. Treepz is building the most important mobility infrastructure in Africa’s megacities. “We hope to build infrastructure for mobility. As a Japanese VC that attaches importance to the mobility industry, we would like to place great value on it.”
Treepz was founded in 2019 with a mission to facilitate shared mobility, while strengthening road transport systems across Africa. The platform developed by Startup brings together more than 21 bus travel companies, allowing users to access the service more easily and at a lower cost.
The news of the financing round came with the acquisition of Ugabus, a startup created in 2016, which owns 70% of all East. African regional bus operators. Onyeka Akumah, CEO and founder of Treepz, said of the purchase:
“Everyone in Treepz is excited to welcome the Ugabus team to the Treepz Family. This has been working for a long time with the agreement reached in Ghana a few months ago, so we are very happy to close the deal successfully. It is an exciting goal for Treepz in East Africa and Uganda. We would work with this new team led by Ugandan Hakiza to study our growth plans across neighboring countries as we plan to build the largest shared mobility platform in sub-Saharan Africa. ”
With its presence in Nigeria, Ghana and Uganda, Treepz continues to improve the lives of millions of people as it becomes one of the leading mobility startups in the region. The startup is also working to build new relationships with local governments, making transport digitization faster.