Categories: Business Plans

Nigeria’s Gokada raises $5.3m Series A funding round to scale its motorbike taxi-hailing business

Most big cities across Africa, just like the rest of the world, face a serious problem of road traffic. Lagos, Nigeria is no exception, and one startup has come up with an innovative product. Gokada, the on-demand motorbike taxi-hailing app.

From personal

experience, if you want to beat traffic, nothing does the job better than a two-wheeler. You could go for a bicycle, but let’s face it. Just a handful of us have the stamina and endurance to ride bicycles up and down the streets. Plus who wants to be bothered about parking space and security once you reach your destination?

But on a motorbike taxi, you can meander your way in between cars stuck in traffic and arrive at your destination in good time. There is, therefore, a good market for motorbike taxi business in big cities frequented by long traffic snarl-ups.

Riding on that fact, Gokada successfully managed to raise $5.3 million Series A funding. It plans to increase its current fleet of over 1,000 motorcycles, and offer its riders more training on road safety and handling pillion.

Found in 2018 by Fahim Saleh, Gokada has registered over one million rides to date. Saleh is originally from Bangladesh and was also the founder of Pathao, a motorbike, bicycle, and car transportation business.

Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

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