Nigerian Logistics Platform Fez Delivery Raises USD 1 M Funding

Fez Delivery, a Lagos-based last-mile logistics startup with hubs across Nigeria, has raised USD 1 M in a round led by pan-African investor Ventures Platform with participation from Voltron Capital, Acasia Ventures and other angel investors. The company plans to use the seed investment to deepen its work in Nigeria and expand into other African markets, including Ghana, Kenya and South Africa. The startup also intends to improve its technology and operation efficiency, hire more talent and increase its marketing spend.

Individual customers can access the startup’s services via mobile and web apps to place and track orders, manage spend, collate data on specific business points and make payments. Fez Delivery also offers APIs and dashboards to its business clients. Last year, the two-year-old startup launched a vertical: FEZ for fintechs, where it helped fintechs deliver debit cards and POS terminals to all their customers and agents across Nigeria. To meet up with the demand, Fez Delivery recently developed a SaaS platform to onboard and verify trained third-party two-wheeler logistics platforms, with fleet sizes of about five-10, to help complete orders that it can’t fulfill.