The motorbike-hailing startup started in Uganda. Early this year the company announced it was expanding to Kenya and is now making Nigeria its third country of operation. The company joins the likes of MAX, Gokada and ORide that are operating in the sector.
In May this year, Safeboda that it will launch in Uganda, this announcement was followed by a massive recruitment of top talents and appointments reaching as far as Europe for several high-profile individuals to join its team in the country. Everything happened so fast that it seemed like the Uganda-birthed start-up was coming to oust existing players in Nigeria’s motorbike-hailing ecosystem.
Safaboda enters a Nigerian market that has a busy tech ecosystem. This year its biggest competitors in Nigeria like MAX, has raised $7 million and plans to add electric motorcycles to its fleets, Gokada raised $5.3 million in Series A funding, ORide launched and accrued a large portion of the bike-hailing market share, Gokada temporarily shut down.
In August this year, according to TechPoint, there seemed to be friction between the SafeBoda Nigeria management team, executives, and investors regarding what operational model to go to market with. It is understood that SafeBoda investors wanted to commence operations in Nigeria sticking to the “Aggregator Business model” that worked for it (SafeBoda) in Uganda and Kenya.
Read more here
Join us February 26-27 for the Property Portal Watch Conference Bangkok 2020.