Nigerian on-demand delivery startup ShapShap has secured a seed extension investment from V8 Capital Partners as it bids to expand its capabilities and move into more markets.
Founded in 2019, ShapShap is an on-demand motorbike delivery service that utilises data and mobile technology to formalise the fragmented and highly inefficient same-day delivery service. So far, the startup has completed over 40,000 deliveries in Lagos and Abuja.
Disrupt Africa reported late last year ShapShap had raised seed funding from the Germany-based GreenTec Capital Partners, and it has now announced an extension to that round, secured from V8 Capital Partners through its Growth Labs Fund I.
The startup will use the new funding to expand its capabilities in last mile delivery for businesses and individuals in Nigeria, and is also looking at expanding to other African countries soon.
“Technology is aiding the ability for businesses globally to reach their consumers faster, and Africa is no different. We are building IP that makes last mile logistics more effective. We have noticed a significant spike in distribution of goods and services through online channels and are committed to helping our clients succeed,” said Khalil Halilu, CEO of ShapShap.
“ShapShap’s unique approach to last mile logistics and Khalil’s proven track record presents a unique investment opportunity. We are excited to partner with Khalil across various verticals working with several portfolio companies to deliver fully automated last-mile delivery infrastructure,” said Tobi Oke, managing partner at V8 Capital Partners.