GreenTec invests into Kenyan social networking app Netwookie LTD

Nairobi (Kenya) and Frankfurt (Germany) September 2018. GreenTec is pleased to announce its investment into Kenya-based Netwookie LTD. Netwookie has developed an innovative approach to mapping the social networks and relationships of virtually any ecosystem. The company’s proof-of-concept is demonstrated with the Netwookie app, which helps users find professionals and service providers on the informal market. Lack of trust is the primary barrier to new business opportunities in developing economies, resulting in an estimated annual loss of $23 Trillion US in productivity and economic growth for African countries. Small businesses and the clients seeking their services are limited to word-of-mouth referrals to find clients or reliable professionals. Similarly, African businesses and corporates struggle to identify and validate qualified applicants within their ecosystems, a key impediment to growth on the continent.

Netwookie solves this problem by digitizing word-of-mouth referrals and mapping social relationships, using a custom-developed trust prediction algorithm based on an individual’s personal contacts. Netwookie currently offers its services as an app, available from the Google Play store, which helps users in Kenya find trusted boda-boda (motorbike taxi) drivers. The app tells users how many registered professionals are in their contacts, as well as listing endorsements and providing location information. Users can then contact the service provider directly and negotiate and contract services and arrange payment through the platform.

The company has recently finished a successful pilot with motorbike taxi (boda bodas) drivers in Nairobi. Having demonstrated the viability of the platform and trust prediction algorithm, the company is actively working to further develop the platform to offer HR and recruitment services to African businesses and corporates. This is an ideal solution for companies seeking to hire the best candidates from a vast pool of potential job seekers with a range of educational and work experience, leveraging the company’s technology to identify local talent, as well as, help professionals further develop their skills through strategic matches with organizations.

Links

Other Posts

Amitruck raises $4 million for scaling into Uganda and Tanzania

Frankfurt (Germany) and Nairobi (Kenya), February 2022. GreenTec Capital is very pleased to report that Amitruck, our Kenya-based logistics-tech portfolio company, has closed a US$4 million seed round. Amitruck will use the funds to bolster its operations, technical, and sales teams supporting its expansion in East Africa. The funding round was led by Better Tomorrow…

read more

GreenTec invests in Nigerian Mobility Solutions platform T40

Frankfurt (Germany) and Lagos (Nigeria), October 2021. GreenTec Capital is very pleased to announce our investment in T40, a Nigerian intercity transport- and logistics-tech company developing solutions to help mobility service providers offer better service to their customers and increase their revenues. The African continent is experiencing one of the highest rates of urbanization globally….

read more

Amitruck selected for Google’s Black Founders Fund

Frankfurt (Germany) and Nairobi (Kenya), October 2021. We are very pleased to report that our Kenyan logistics-tech start-up Amitruck has been selected for Google for Startups Program’s newly launched Black Founders Fund. The $US 3 million facility has selected 50 start-ups from across Africa to receive the equity-free funding as a part of Google’s racial…

read more