Gokada Secures $5.3m Investment to Expand

  • Gokada Secures $5.3m Investment to Expand

Gokada, a Lagos-based motorcycle hailing startup, recently secured $5.3 million from investors to expand its operation across Nigeria.

The Series A investors were Rise Capital, Adventure Capital, IC Global Partners and First MidWest Group.

Mr Fahim Saleh, the co-founder of the company, said the fund would help increase the company’s fleet and ride volume.

“We’re going to start a Gokada club in each of the cities with a restaurant where drivers can relax, and we’ll experiment with a Gokada Shop, where drivers can get things they need on a regular basis, such as plantains, yams and rice,” Saleh stated.

The Bangladeshi entrepreneur further said: “We don’t do anything with the fares. We want to create an Amazon Prime-type membership…and ecosystem around the driver where we’re going to provide them more and more services, such as motorcycle insurance, maintenance, personal life-insurance and micro-finance loans.”

“We’re trying to provide a network of great services for our drivers that make them stick with us, and not necessarily see a reason to switch to other platforms,” he added.

Since it was founded in 2018, the company has done about one million rides and trained and on-boarded more than 1,000 motorcycles and their pilots on its app.

Mr Ayodeji Adewunmi, the founder of Jobberman, recently joined the Gokada as co-CEO.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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