Plentywaka Gets Backing From Techstars, Plans Expansion To Canada

Lagos based bus-booking platform, Plentywaka said it has been accepted into the Techstars Toronto accelerator program.

“We are super thrilled to announce that Plentywaka has been selected for investment by Techstars, the largest global accelerator in the world,” the firm announced on Wednesday.

The development comes alongside the company’s launch of its interstate travel service.

Plentywaka will join 9 other startups to get access to a world-class network of entrepreneurs and investors.

It would give the Nigerian startup the opportunity to expand its services globally with Canada as the starting point.

The Lagos-based firm founded by Onyeka Akumah, Johnny Ena, John Shaibu and Afolabi Oluseyi, launched an ‘Uber-for-buses’ model connecting commuters with buses via an app in September 2019.

The company attributed its partnership with Techstars to its achievement over the past 18 months.

The company, during the period, moved over 300,000 commuters through their daily commute across three states in Nigeria.

Plentwaka also announced a funding of $300,000 from Microtraction, Niche Capital, and EMFATO and a partnership with Innoson Vehicles Manufacturing.

The Co-Founder and CEO, Onyeka Akumah, said, “We are very excited about this new investment to partner with Techstars. This is the second time a startup I founded will go through a Techstars accelerator program and we are truly happy they have believed in our ability again to execute.

“The Plentywaka team will join the Techstars Toronto program to gain further funding, mentorship, and access to a rich network of entrepreneurs and experts in the travel industry. This will also see us expanding globally to other countries, starting with a city in Canada on or before the fourth quarter of 2021.”

Also, Sunil Sharma, the Managing Director, Techstars Toronto said “Our only goal is to leverage the broader ecosystem to support and grow these incredible companies. Techstars is the worldwide network that helps entrepreneurs succeed, and strong partners and mentors help make this happen.”

On intercity travels, the company said it has partnered Libra Motors and four other players with a combined capacity of over 300 buses to move travellers across 100 routes in Nigeria.