That was my first interaction using danfo buses in Lagos, but like everyone, I got used to it.” In Lagos, I remember when I was walking to a bus stop for the first time, I was actually shocked how people were running very fast to get seats. “There were fewer issues of people running after buses in Ibadan. Years after returning to Nigeria’s commercial city, Olokesusi would encounter the infamous and troubling method of booking bus seats in public buses ( danfos), which she says “troubled” her, narrating her experience in this interview. The founder was born in Lagos but grew up in Ibadan, a neighbouring city with a less chaotic transportation system than Lagos. But her journey to Shuttlers was accidental, as she tells me how working in an oil and gas firm took the front seat of where she wanted to work after studying chemical engineering at university. Olokesusi is one of the few female founders on the continent to have raised a significant round from VCs this year. In a similar train of thought, Nneka Eze, the managing director at lead investor VestedWorld, said her firm believes the “investment will help Shuttlers extend its offering to adjacent markets and help solve inefficiencies in the transportation sector across regions in Africa.” The company has begun operations in Nigeria’s capital city Abuja, but Olokesusi doesn’t say which other cities within and outside Nigeria Shuttlers will expand to next. Now we are ready to take over the African market, starting with Nigeria and West African markets in the next couple of months. “We just made the right decision for the company at this particular right time so we can get ready for the opportunity that happens after. Now, investors are interested in this and think local mobility plays can be valuable solutions,” Olokesusi said. “We were not actively looking for investors however, there is now more attention in the shared mobility industry because of companies like SWVL. However, Olokesusi says investors’ interest in the company was the main reason behind the company’s first venture capital intake. The Techstars-backed company is actively fueling its expansion across Nigeria and Ghana having raised more than $1.5 million in funding, money also used to acquire a similar player in Ghana. Having done this much with so little, why is the company raising a seed round now? For one, it seems the company wants to go head-to-head with VC-backed competition its funding is coming at a time when newer entrants are gaining ground across the country, most notably from Toronto and Lagos-based Plentywaka. Olokesusi added that her company sells more than 6,000 bus tickets daily, which means over 3,000 people take two-way trips each day. In total, they have recorded more than 2 million trips since the company’s inception. More than 100 unbranded and branded buses are on its platform, ploughing over 30 routes in Lagos with over 300 bus stops. The company claims to have over 10,000 users across its mobile app and website users. ĭespite raising just ₦3 million (~$6,000) from friends and family and grants since 2016, Shuttlers’ growth has been staggering. It also has a subscription feature where commuters can schedule rides in advance over a period of time. Some of its other features include live bus tracking, optimal routing based on traffic and digital payments, the company said. Īccording to the company, commuters pay 80% less when using its service instead of other ride-hailing services “without surges and peak-period pricing.” Through the platform, commuters can book a seat on one of the buses that goes along predetermined and scheduled routes. “Our mission is to transform the way people commute around the world by building a global partner network and connecting communities of shuttlers like we are presently doing in Lagos, Nigeria,” Olokesusi said in a statement.įollowing a revamp in 2019, Shuttlers now offers a fully functional app that allows mobile professionals on its three plans to book rides.
The others include B2B, where business clients pay the complete fares of their employees and B2C, where individual customers pay fares themselves. The B2B2C plan is one of three main offerings Shuttlers providers here, companies split payment of transport fares with their employees whichever way they see fit. Tech talent unicorn Andela was Shuttlers’ first B2B2C client, Olokesusi told TechCrunch over a call. Make Bingo Buddies, Good stuff.Yet, that was enough to onboard its first set of business clients. You can chat & trade while your playing just from the chat rooms.
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