Treepz, a Nigerian shared mobility startup, has closed out its seed round at USD 2.8 Mn and expanded to Uganda with the acquisition of bus company, Ugabus. The startup raised a further USD 1.6 Mn in funding, closing its seed round at USD 2.8 Mn. The additional funding comes from Google for Startups Black Founders Fund Africa, Japanese VC firm Uncovered Fund, and Dubai-based VCs including, Blanford Capital and Jonomi Capital. Egypt-based fund Jedar Capital also participated in the round with follow-on investments from previous investors.
Treepz operates a digital platform allowing passengers to book daily rides along fixed routes. It also serves as an aggregator for bus travel companies across 21 cities in Nigeria, allowing transport operators to replace manual servicing and ticketing with digitalized offerings and services. The startup was formerly known as Plentywaka.