V8 Partners provides seed funding for Nigerian Startup ShapShap

ShapShap, V8 Capital Partners has invested in seed expansion to help a Nigerian delivery company, ‘On-Demand Delivery’, grow its capabilities, and expand into new markets.

ShapShap, an on-demand motorcycle delivery company founded in 2019, uses data and mobile technology to formalize the unreliable and inconsistent same-day delivery service. The company has completed over 40,000 deliveries in Lagos and Abuja.

ShapShap was awarded seed funding by GreenTec Capital Partners in Germany last year. It has announced an extension of that round with V8 Capital Partners via its Growth Labs Fund.

The new money will be used to develop the company’s current abilities in last-mile delivery for businesses and individuals in Nigeria, with plans to extend to other African countries in the near future.

Khalil Hailu, CEO at ShapShap, believes technology is helping businesses all over the world reach customers more quickly. Africa is no different.

ShapShap is working on intellectual property to improve last-mile logistics efficiency. He stated that there has been a significant increase in online distribution of goods and services and that ShapShap is committed to supporting its customers in all endeavors.

ShapShap’s unique approach to last-mile logistics, combined with Khalil’s established track record, creates a unique investment opportunity, according to Tobi Oke, the managing partner at V8 Capital Partners.

He expressed his delight in the opportunity to collaborate with Khalil on various projects, including the delivery of fully automated last mile delivery infrastructure to many portfolio company companies.

The impacts of COVID-19 lockdown and lower discretionary income have affected businesses all across the world, but perhaps none more so than those in Africa’s customer-concentrated sectors.

These businesses face significant challenges as they are forced to relocate from areas such as shopping malls and other public spaces.

This has made it clear that Africa’s countries must adopt a digital-first approach for work, commerce and all other elements of daily living.

However, last-mile delivery in Africa grew and companies such as ShapShap and Kwik began to raise financing for expansion and new markets.

The last-mile delivery stage is crucial to supply chain management success. It plays such an important role in customers’ happiness. It’s also quite hard to get right.

These businesses need to expand in new areas and improve their offerings to meet customer needs.

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