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    Flutterwave debunks Alleged Reports of Hacked Accounts

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Flutterwave adds Google Pay to its Payment Options for African Businesses

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    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

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    Google Expands its Digital Wallet to South Africa

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

  • FEATURED
    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

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    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

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    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Kwik Delivery raises $2million Series A to expand across Nigeria

by Ajifa Solomon
July 4, 2022
in StartUps
Reading Time: 3 mins read
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Kwik Delivery raises $2million Series A to expand across Nigeria
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Nigeria’s business-to-business delivery platform, Kwik Delivery, has raised $2 million in series A financing. This brings the total amount raised to $4.2 million in over 6 funding rounds. 

Proceeds from this investment will be used to launch a B2B lending marketplace to help merchants obtain financing. Kwik will also use this new funds to expand regionally across states in Nigeria- Ibadan, Kano, Port Harcourt, and Kaduna. 

The round was led by XBTO Ventures, a crypto finance company with a venture capital arm investing in digital assets.  Humla Ventures, Nabuboto, Ubisoft CEO Yves Guillemot, and Pulse Africa founder Leonard Stiegeler were also named among  investors.

Kwik started off operations in  2019 with  founder Romain Poirot-Lellig  aiming to “bring the informal economy into the formal economy.”

Kwik connects businesses with other businesses and customers using independent bikes, trucks, vans and warehouses. The logistics company ensures last-mile delivery to customers in Abuja and Lagos where it currently operates. 

The on-demand delivery platform offers customers a variety of vehicles to choose  from, depending on the size of the goods. The platform also enables real-time tracking of order via their online mapping tools.

Kwik provides customers payment options, enabling them to pay and have goods delivered efficiently. 

Since its launch, Kwik Delivery has onboarded over 100,000 customers and is driving at increasing this current user base to 800,000 by the end of 2022. Out of the 100 thousand users, 75% are weekly active users, Poirot-Lellig said.

Kwik claims to have made significant headway with providing last-mile delivery and e-commerce fulfilment services to merchants.

“This financing round will enable us to expand across all three key verticals and select geographic area,” said Poirot 

“Our goal is for Kwik to become the prime app choice for African social vendors and traditional merchants going digital. Integrating delivery, payment and e-commerce tools seamlessly in one easy-to-use mobile app is a catchy proposition,” he said.

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