Plentywaka, a mobility business based in Lagos and Toronto, has raised a USD 1.2 Mn seed round to expand its operations after graduating from the Techstars Toronto Accelerator Program last month. In addition, the startup has acquired Stabus Ghana to expand into Accra.
The funding round was led by Canadian-based VC firm The Xchange. The round also included SOSV, Shock Ventures, Techstars Toronto, Argentil Capital Partners, and ODBA & Co Ventures. Some angel investors from Canada, other parts of Africa, and the U.S also participated in the seed round.
Plentywaka is largely a bus-booking platform, but it also possesses approximately 900 vehicles, ranging from automobiles to vans to buses, according to its website. The company uses a smartphone application to provide intrastate (through its Dailywaka service) and interstate (via its Travelwaka offering) travel for its subscribers.