Nigeria's Logistics Startup, Kobo360 Gets A $6m Investment From World Bank's IFC - Techcrest

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Nigerian tech startup Kobo360, has received a $6million equity investment from IFC, a member of the World Bank Group.

Kobo360 an e-logistics platform eases cargo owners the stress in searching for a truck. The platform helps connect the supply of trucks with the demand for transportation services by cargo owners in Nigeria.

The IFC in a statement released that the investment was led by the IFC with participation from others including Silicon Valley investors WTI, YCombinator and African institutional investors Cardinal Stone Partners, Chandaria Capital and TLcom.

The IFC also said the kobo360 currently has 5000 trucks empanelled on its platform, from over 600 small fleet owners, serving some of the largest enterprises in Nigeria.

The deal was announced by the IFC and Kobo360 CEO and founder Obi on the eve of the opening of the IFC’s Next 100 African Startups Initiative.
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