Fez Delivery, a logistics and delivery startup in Nigeria, has raised US$1 million in seed funding to speed up its growth and expand its team.
Ventures Platform, Voltron Capital, Acasia Ventures (previously Cairo Angels), and other angel investors joined the seed round, which was led by Ventures Platform.
Seun Alley founded Fez Delivery in 2020. Initially, the company provided janitorial services to businesses, but the janitors were frequently missing because they were running errands for staff members.
In 2016, we started a janitorial services business. The following year, we saw a pattern of janitors missing work because they were running errands for staff members, Alley said.
We introduced delivery services to the businesses we were collaborating with as a stop-gap so that our janitors could concentrate on their work. It was a resounding success. We learned from this experience that last-mile logistics is a serious issue for SMEs and individuals. We made the decision to address this issue by developing a platform that enables people and organizations to conveniently track their goods online in real time without utilizing several logistical partners.
The three-year-old startup charges customers each delivery and businesses a monthly membership in order to recoup costs. The logistics start-up completed 200,000 trips in 2022, and income increased by 20% month over month. Flutterwave, Kuda, Moniepoint, OPay, Famasi Africa, and Red Bull are just a few of its clients.
Before looking at other African markets, Fez Delivery will continue to focus on deepening its efforts in Nigeria.
Read more on Tech Gist Africa:
HouseAfrica, a prop-tech startup in Nigeria, has secured a $400k funding round
Onepipe, a fintech startup based in Nigeria, has just closed a $4.8 million funding round.
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