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. This urbanization is driven by a number of economic factors, chief among them being young people commuting for work in urban centers. In Nigeria and across Africa, intercity transportation services struggle to attract and retain customers in a fractured market. T40 has developed a range of solutions designed to help mobility vendors attract and retain customers. T40’s solutions help vendors to better market their offerings, as well as better manage individual vehicles or fleets with the company’s PoS consolves and logistics platform. T40’s solutions go end-to-end with a client facing app that makes it easier for riders to plan and buy their routes. Finally, T40 also offers personalizable entertainment centers to improve ride quality and provide an additional marketing channel. T40’s innovative solutions position the company well to scale within Nigeria and beyond as the African intercity transportation and logistics industry rises to meet the emerging demand.
“T40 is here to rebrand the subpar road transport service in Nigeria to a sophisticated and customer-centric one. With our digitized products, transport companies can achieve more profit margin and the customers a pleasurable experience. It’s a win-win. Having the support of an experienced start-up investor like GreenTec will be key to the next stage of our growth journey” Said Folarin Olulana, CEO & Co-Founder of T40.
“Driven by population growth and urbanization, logistics and intercity transport have always been important to Nigeria and Africa’s economic growth. T40 presents a customer-driven solution that leverages technology to delight commuters and transport operators alike. It’s an innovative solution being executed by a strong team with promise and we look forward to working with them,” said Tomi Davies, GreenTec Capital Partners Chief Investment Officer