- Nigerian logistics startup, Fez Delivery, has secured $1 million in a seed round to deepen its operations in the country and expand into African markets, including Ghana, Kenya, and South Africa, by Q4 2023.
- Ventures Platform led the round with participation from Voltron Capital, Acasia Ventures, and some angel investors.
- The startup also plans to hire more talent, spend more on marketing, and increase the efficiency of its operations and technology.
Seun Alley (CEO) founded Fez Delivery in 2020 after starting a B2B janitorial service and a side business two years prior.
In 2018, Alley discovered that janitors were frequently absent from their assigned offices. When she dug deeper, she found out that they were usually out helping other employees pick up their food orders.
Consequently, she started Fez Delivery — a delivery business — with two bikes to help these employees get food. Soon after, she discovered they were not the only people experiencing these challenges.
The startup says it optimises last-mile logistics pricing, reach, and delivery times.
Individual customers can access its services via mobile and web apps to place and track orders, compile data on particular business points, and make payments.
Further, the startup offers APIs to its business clients. It claims that over 17,000 people are currently using its platform, with 70% being individuals and 30% being a mix of SMEs and startups.
According to Fez Delivery, it completed 200,000 trips in 2022 and saw a 20% month-over-month increase in revenue.
The company introduced the Fez for fintechs vertical in 2022, assisting fintech startups in providing debit cards and PoS terminals to all of their clients and agents in Nigeria.
What’s more, it recently created a SaaS platform to onboard and verify trained third-party two-wheeler logistics platforms, with fleet sizes of about five to ten, to help complete orders it can't fulfil.
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