Shuttlers Secures $4M Equity Fund to Transform Mass Transit Experience in Nigeria

Nigeria’s first & leading tech bus-sharing service Shuttlers has recently secured a $4 million equity fund to transform mass transit experience in Nigeria.

The funding round was led by Verod-Kepple Africa Ventures (VKAV), a leading pan-African focused venture capital (VC) firm, with other investments from SheEquity, VestedWorld, CMC21 & Alsa, and Echo VC.

With this new funding secured, Shuttlers plan to optimize its transportation solutions and accelerate growth in Nigeria, which includes building infrastructure to power mass transit, dominating Lagos, enabling improved employee transportation for corporates, and expanding to other cities within Nigeria.

Speaking on the recent funds raised, the startup CEO and Co-Founder Damilola Olokesusi said, “We are thrilled to have VKAV, VestedWorld, SheEquity, CMC 21 & Alsa, and Echo VC as partners in our mission to transform passenger transportation in Nigeria. This additional funding will allow us to build the infrastructure we need to power mass transit and expand our reach to more communities in Nigeria. We believe that shared mobility can have a transformative impact on our society, and we are committed to driving that change”.

Shuttlers has reportedly raised a combined $5.6 million. In the past 18 months, the startup has achieved remarkable traction, growing its fleet by 150% and expanding its routes by 25x, with a 280% increase in passengers commuted daily. Shuttlers has already built a loyal customer base in Lagos and is rapidly expanding its services to other cities in Nigeria.

Investors King understands that when commuting from one place to another, one-factor people always look out for is comfort and efficiency, which has seen several of them turn to Shuttlers, a company that is revolutionizing the way people move around and completely transforming travels.

Shuttlers offers convenient, reliable, and luxurious transportation options for individuals and businesses. With a focus on efficiency and comfort, the startup provides a stress-free way for employees to get to and from work, freeing them up to focus on more important tasks. Shuttlers’ state-of-the-art buses are equipped with comfortable seating, air conditioning, and real-time tracking, ensuring that passengers have a comfortable and worry-free journey.

With the startup’s innovative approach to transportation, it is changing the game for commuters and businesses alike. But Shuttlers isn’t just changing the way people commute to work, the startup is also leading the charge in the shift toward more sustainable transportation options.

With its bus-sharing initiative, the company seeks to reduce air pollution and CO2 emissions in the environment. This not only benefits the environment but also helps improve air quality, which can have a positive impact on employee health and well-being.