Nigerian Mobility Startup, Treepz increases $1.6 million seed extension, acquires Ugandan bus company, Ugabus

Nigeria-based Mobility-as-a-Service platform Treepz (formerly Plentywaka) has raised $1.6 million seed extension.

This deal follows after raising $1.2 million seed round bringing its total raise to $2.8 million.

The seed extension had participation from new investors like Japan-based Uncovered Fund, Dubai-based Blanford Capital and Jonomi Capital and Egypt-based Jedar Capital.

The company has also expanded into Uganda, acquiring Ugabus, a bus company. Treepz’s initial step into the East African market will be through this acquisition, which will see Treepz fully acquire all of Ugabus’ operations and personnel.

Founded in 2019, Treepz formerly called PlentyWaka connects commuters with buses via an app. The company has over 900 vehicles including cars and vans and provides intrastate travel and interstate travel for its users.

Uganda’s Ugabus is Treepz’s second acquisition of the year after acquiring Ghanaian mobility startup, Stabus. According to Treepz, Ugabus, which will be rebranded Treepz Uganda on December 1, presently has 70% of the country’s bus operators on its platform, with over 50,000 clients using the service to travel between Ugandan cities