Nigerian Logistics Startup Kwik Raises USD 2 Mn Series A Funding Round

Nigerian logistics startup Kwik has raised a USD 2 Mn Series A funding round as it steps up expansion to digitize informal African trade, from logistics to financial services. The round was led by XBTO Ventures, an investor focused on digital asset and fintech investments. It also features follow-on investments from several new and existing shareholders, including venture fund Humla Ventures; Leo Stiegeler, founder of Pulse. Africa; French tech investment holding Nabuboto, and Ubisoft CEO Yves Guillemot. 

Kwik is a digital platform connecting delivery partners and corporate customers in large African cities and offering digital solutions for e-commerce payment and fulfillment. The startup is now focusing on building digital services for the three key pillars of last-mile delivery, e-commerce and fulfillment, and financial services.