Nigerian On-Demand Delivery Startup ShapShap Completes Seed Round for Expansion
V8 Capital Partners has given ShapShap, a Nigerian on-demand delivery firm, a seed extension investment to help it expand its capabilities and penetrate new markets.
The fresh funds will be used to improve the startup’s last-mile delivery capabilities for businesses and individuals in Nigeria, with ambitions to expand to other African countries in the near future.
“Technology is assisting businesses around the world in reaching their customers faster, and Africa is no exception. We’re developing intellectual property that will improve the efficiency of last-mile logistics. “We’ve witnessed a substantial increase in online distribution of goods and services, and we’re devoted to helping our clients thrive,” said Khalil Halilu, CEO of ShapShap.
ShapShap is an on-demand motorcycle delivery business created in 2019 that formalizes the fragmented and inefficient same-day delivery service by utilizing data and mobile technologies. Over 40,000 deliveries have been made in Lagos and Abuja by the startup.
The rise in demand for logistical services in Africa is directly related to the continent’s expanding urbanization. The demand for efficient and scalable solutions to connect people to services, food, and retail outlets grows as more people migrate to Africa’s cities.
ShapShap’s solution satisfies this requirement: an all-in-one platform that relieves all parties involved from the pains of delivery logistics.
Thanks to the platform’s B2B and B2C channels, which enable merchants to instantly give customers easy delivery options, clients can find a range of services and products, and delivery staff can simply earn money supplying multiple vendors.
ShapShap received seed funding from GreenTec Capital Partners in Germany late last year, and the company has now announced that the round has been extended, with funding from V8 Capital Partners’ Growth Labs Fund I.
“With ShapShap’s innovative approach to last-mile logistics and Khalil’s proven track record, this is a once-in-a-lifetime investment opportunity.” Tobi Oke, the managing partner at V8 Capital Partners, said, “We are pleased to cooperate with Khalil across several sectors, working with several portfolio businesses to create completely automated last-mile delivery infrastructure.”
