Kobo360, a Nigerian freight logistic startup, has launched its operations in Kenya to become a player in the digital logistics space of that country. Kobo360’s digital platform, an app, linking shippers, forwarding firms and truckers is looking at cornering a pie the intra-African trade space. The firm is enthused by the increased traffic in the East Africa, particularly at the Mombasa port that handles more than 13 million tones of region-bound cargo every year. The company will leverage its superior digital technology and efficacy of app to become an active player in the sub-region. The firm has over 4,000 users including Dangote Cement, Unilever and LaFarge. In Kenya, its partners include Bidco Africa, Union Logistic, Bakhresa Group, Rafiki Millers and McNeel Millers.
Recently, Kobo360 has raised a US$20 million Series A round led by Goldman Sachs and US$10 million in working capital financing from Nigerian commercial banks. The company will use the funds to upgrade its platform, more like that of Uber’s aggregating model- to expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya. Since its launch in Lagos in 2017, the startup has continued to grow its product offerings, VC backing and customer base. The startup claims a fleet of more than 10,000 drivers and trucks operating on its app.
The company has a range of related platforms like, KoPay, KoboSafe insurance product and KoboCare, driver services and family tuition assistance. It is a growing e-logistics and transport space in Africa linking on-demand apps to mobile-based connectivity to move people and goods around the continent more effectively. The startup expects to have a voice in AFCTA’s final implementation.
