Shuttlers, a Nigerian shared mobility company that allows individual and corporate passengers to take rides on multiple bus routes via an app, has raised $4 million in a new funding round led by Verod-Kepple Africa Ventures (VKAV), a Pan-African focused venture capital firm.
The round welcomed participation from follow-on investors, including VestedWorld, which led the mobility startup’s $1.6 million round 18 months ago. ShEquity, CMC 21 & Alsa and EchoVC are the startup’s other backers in this round, which has seen the mobility company secure over $5.6 million in total venture backing.
Shuttlers’ business primarily focuses on corporate trips and commutes. In Lagos, Africa’s most populous city, the average professional who commutes to work daily or several times a week — whether with a personal car or danfo minibuses and okadas — meets roads riddled with intense traffic congestion and dangerous carbon emissions. Since transportation isn’t a common employee perk in Nigeria, what…
