Nigerian Logistics Startup, Kwik Secures Undisclosed Amount of Funding From Ubisoft Founder to Aid Expansion
Lagos-based logistics startup, Kwik, has secured an undisclosed amount of funding from the founder of French video games company, Ubisoft SA to help expand its operations.
The undisclosed fund is part of a Series A round of funding that the company is in the process of raising, according to Disrupt Africa.
This funding comes after the company raised an estimated $330,000 in equity investment in May 2019.
Kwik is a B2B logistics Platform
Founded in July 2018 by a French National, Romain Poirot-Lellig, Kwik is a business-to-business (B2B) focused, on-demand, and last-mile delivery service.
The Logistics startup launched in Lagos in July 2019 after about 9 months of intensive operations planning and software development.
The chairwoman of the company, Olatowun CANDIDE-JOHNSON has several years of experience in senior management roles within the Total Upstream Companies in Nigeria as well as in the Total Group which she leverages to aid the growth of the company.
Kwik is committed to business-to-business-to-customers (B2B2C) and business-to-business (B2B) customers, who don’t have proper transportation of their documents or parcels.
Kwik delivers many things ranging from food, parcels, shopping goods, documents, groceries, electronics among others. However, the maximum weight its riders care allowed to carry in their Kwik box is 20 kg.
Kwik is an Uber-like company
Kwik has other last-mile delivery startups like GIGL, Max and Gokada to compete with within Lagos last-mile delivery market. However, Poirot-Lellig has explained that Kwik Delivery is operating with a model that differentiates it from other delivery systems.
Our model is quite different from existing companies: we are an asset-light company and we enrol the Kwiksters – our delivery partners – much like Uber is enrolling drivers. We provide them with equipment, training, financial services, technology and incentives – as well as with a clear set of rules that we strictly enforce.Romain Poirot-Lellig, CEO and Founder of Africa Delivery Technologies
The delivery startup leverages technology to make its delivery process seamless and transparent. Kwik operates a point-to-point delivery system that allows users to track the movement of their parcels from takeoff to delivery.
Kwik has raised over $330,000 in Funding
Last year, Kwik raised an estimated $330,000 in funding. The funds included a $230,000 Seed round led by MarlInves, a French investment company with significant experience in Nigeria.
After a few months of operation in Lagos, the startup has now secured an undisclosed amount of funding from Yves Guillemot, founder and chief executive officer (CEO) of Ubisoft SA as part of a Series A round.
The delivery startup is currently operational in Lagos. But in a Guardian interview last year, Poirot-Lellig said the startup aims to bring some fluidity and reliability to the transportation of goods, people and services in large cities of sub-Saharan Africa.
With the new funding, the company can commence its expansion plans especially at a time when logistics operations are paramount to the current lockdown in major cities.
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