To scale across Africa, $1.6 M seed funding received by Nigerian mobility startup Shuttlers

Shuttlers, a Nigerian tech-enabled mobility firm, has received $1.6 million in a seed round and announced intentions to expand across Africa.

Shuttlers, founded in 2016 by Damilola Olokesusi, allows commuters to travel in comfort along pre-determined routes at a reasonable cost, with fixed-route journeys costing up to 80% less than competing ride-hailing services.

Shuttlers’ subscription option also allows commuters to take control of their schedules by allowing them to plan trips in advance for an extended period. Over five million journeys have been made possible by the firm so far.

After raising a $1.6 million seed round led by VestedWorld, a Chicago-based Africa-focused venture capital firm, and including Interswitch, Rising Tide Africa, Launch Africa Ventures, EchoVC Partners, CMC 21, Alsa, ShEquity, Five35, Consonance, CcHub Syndicate, Sakore, and Nikky Tarus, it is now poised to scale even further.

Shuttlers will use this round of funding to expand its operations to other Nigerian cities initially, and eventually to other African towns. With access to new technical alternatives, the organization will also strive to optimize its operations and remove current inefficiencies.

“These are exciting times for us at Shuttlers, and I will like to take the opportunity to thank our investors for believing in what we are building. This raise will help in furthering our mission at Shuttlers to transform the way people commute around the world, by building a global partner network and connecting communities of shuttlers like we are presently doing in Lagos,” said Olokesusi.

“Anyone who has ever lived in a major city in Africa can attest to the back-breaking impact of inefficient mobility. The transport options available to the masses in Africa are very substandard in comparison to what is obtainable in the more developed world. It is directly linked to poor quality of life, mental health, and ultimately reduced productivity. The impact is even more severe on the more vulnerable population in our society; women, children, physically challenged, and the elderly – and Shuttlers is very passionate about ensuring inclusion for those groups of commuters. I’m confident that our tech-enabled mobility solutions can solve some of these urban mobility challenges sustainably.”