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Plentywaka, a shared mobility company targeted at disrupting and massively improving the transportation system, has secured $1.2m in seed round funding two months after ending the Techstars Toronto Accelerator Program in July 2021. The investment was led by the Xchange, a Toronto-based fund with other participants in the round including Techstars, SOSV, ShockVentures, Argentil Capital Partners, and ODBA & Co Ventures, with a couple of angel investors from Canada, the US, and Africa.
The logistics, which provides hassle-free shared rides on-demand, has also announced its acquisition of Stabus, one of Ghana’s leading mobility startups, in a path to build the largest shared mobility platform on the African continent, starting with West Africa. Stabus will now be known as Plentywaka Ghana with the mobility platform offering a range of low-cost and premium vehicles which includes cars, mini-vans, and buses for public transportation. Isidore Kpotufe, Co-founder of Stabus, will become the Country Manager of Plentywaka Ghana and will be joined by the current team of Stabus.
“We are excited to support Onyeka and the team with the resources they need to realize the full potential of their vision to change the African transport ecosystem. We have been most impressed with Plentywaka’s human-centered approach, putting the drivers as the heroes of the story while creating an exceptional passenger experience. We are committed to supporting the vision of Plentywaka, its founders, and its journey for many years to come,” said Todd Finch, Founder and Managing Partner of The Xchange.

Plentywaka’s Co-Founder & CEO, Onyeka Akumah said, “Plentywaka’s acquisition of Stabus is a firm statement about our commitment to grow and build the largest shared mobility startup in Africa, one country at a time. Isidore is a brilliant entrepreneur and we are excited about having him and his team execute our plans for the Ghanaian market as Plentywaka Ghana’s operations commence on the 16th of September in Accra. In addition to our work in Ghana, we are also really happy about the progress we’ve made in Nigeria as well to scale our Dailywaka service that provides bus-stop to bus-stop transportation service for thousands of commuters. Today, we have moved close to half a million people and that’s a credit to the effort of my team, our heroes (a term used to describe Plentywaka drivers), and our investors who continue to believe and support our growth with their investments. With our Travelwaka service, we have been able to cater for interstate travelers across 21 cities in Nigeria and we are looking to expand to more cities as new bus partners sign up with us.”
Plentywaka offers commuters convenience, safety, and comfort through daily rides and road travel ticketing services. Despite the suspension of its operations for five months in 2020 due to the COVID-19 pandemic, Plentywaka has still been able to get 965 vehicles onboarded on its platform with a total of 486,629 total rides completed over 2 countries. Plentywaka boasts 79,100 app downloads with users totaling 84,457.
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