ShapShap, a Nigerian on-demand delivery firm, has received a seed extension investment from V8 Capital Partners as it seeks to expand its capabilities and enter new markets.
ShapShap, which was founded in 2019, is an on-demand motorcycle delivery business that uses data and mobile technology to formalise the fragmented and inefficient same-day delivery service. Over 40,000 deliveries have been made in Lagos and Abuja by the firm thus far.
ShapShap received seed investment from GreenTec Capital Partners in Germany, and it has now announced an expansion of that round, secured from V8 Capital Partners through its Growth Labs Fund I.
The additional money will be used to grow the startup’s skills in last mile delivery for businesses and people in Nigeria, and it plans to extend to other African nations in the near future.
“Technology is aiding the ability for businesses globally to reach their consumers faster, and Africa is no different. We are building IP that makes last mile logistics more effective. We have noticed a significant spike in the distribution of goods and services through online channels and are committed to helping our clients succeed,” said Khalil Halilu, CEO of ShapShap.
“ShapShap’s unique approach to last-mile logistics and Khalil’s proven track record present a unique investment opportunity. We are excited to partner with Khalil across various verticals working with several portfolio companies to deliver fully automated last-mile delivery infrastructure,” said Tobi Oke, managing partner at V8 Capital Partners.
