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$6 million in seed funding for Nigerian e-logistics platform
Published:2018-12-15   Have been here 96   Source:泓威国际物流

Nigerian e-logistics platform Kobo 360 has obtained $6 million in seed funding from the International Finance Corporation (IFC), part of the World Bank Group.

The company specialises in improving access to long-haul road freight services for large and small enterprises in the country's rapidly-growing agribusiness, fast moving consumer goods, and manufacturing sectors.

It currently has over 600 small fleet owners, operating 5,000 trucks, signed up on its platform.

Commenting on the financial support from the IFC, CEO and founder of Kobo 360, Obi Ozor, said: “We are excited to have our new investors to support us in redesigning transportation and logistics in Africa, and across emerging markets, by building a Global Logistics Operating System (G-LOS) to power new frontiers in trade and commerce.

"Our motivation remains to aggressively reduce logistics frictions for large enterprises and SMEs, and connect new markets, and in the process unlock better well-being and opportunities across communities”.

For his part, IFC CEO Philippe Le Houérou, remarked: “IFC is committed to supporting the digital economy and young entrepreneurs in Nigeria and across Africa.

"IFC’s investment in Kobo demonstrates how disruptive technologies can enhance the development of key sectors and contribute to Nigeria’s economic diversification. This is an innovative startup that is making company operations more efficient and lowering transport costs".

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