Kwik, a French-Nigerian-based B2B startup fast-growing provider of SaaS logistics services to social vendors and e-commerce platforms in Africa, announced that it successfully closed its $2 million in Series A funding.
The round was led by XBTO Ventures, an investor focused on digital asset and fintech investments, along with 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’s CEO Yves GUILLEMOT.
This financing round will enable Kwik to expand across all three key verticals and in select geographic areas.
Company: Africa Delivery Technologies SAS
Raised: $2.0M
Round: Series A
Funding Month: March 2022
Lead Investors: XBTO Ventures
Additional Investors: HUMLA Ventures, Leo STIEGELER, NABUBOTO, and Yves GUILLEMOT
Company Website: https://kwik.delivery/
Software Category: SaaS Logistics Services
About the Company: Launched in June 2019 in Lagos, Kwik is focusing on building digital services for the three key pillars of last-mile delivery, e-commerce and fulfillment, and financial services. Kwik made its mark with its first vertical as the trusted digital platform to secure quality last-mile delivery services. The service expanded from bikes to vans and SUVs, all the way to 20-tons trucks. More than 100,000 merchants have adopted the Kwik platform so far. The company also launched payment and financial services in 2021, representing already more than 10% of its GMV.
Source: https://african.business/2022/03/apo-newsfeed/kwik-closes-2m-series-a-round-steps-up-expansion-to-digitize-informal-african-trade-from-logistics-to-financial-services/