Gokada Gets $5.3m for Expansion as Jobberman Founder Joins Firm

By Dipo Olowookere

Lagos-based motorcycle hail company, Gokada, has secured a funding support worth $5.3 million to spread its operations across states of the federation.

Rise Capital led the Series A investment package with support from Adventure Capital, IC Global Partners and First MidWest Group.

In a chat with TechCrunch, co-founder of the company, Mr Fahim Saleh, explained that the financing would be used to increase its fleet and ride volume, while developing a network to offer goods and services to its drivers.

“We’re going to start a Gokada club in each of the cities with a restaurant where drivers can relax, and we’ll experiment with a Gokada Shop, where drivers can get things they need on a regular basis, such as plantains, yams and rice,” Saleh was quoted as saying.

The Bangladeshi entrepreneur who previously founded and exited Pathao, a motorcycle, bicycle and car transportation company, further said, “We don’t do anything with the fares. We want to create an Amazon Prime-type membership…and ecosystem around the driver where we’re going to provide them more and more services, such as motorcycle insurance, maintenance, personal life-insurance and micro-finance loans.”

“We’re trying to provide a network of great services for our drivers that make them stick with us, and not necessarily see a reason to switch to other platforms,” he added.

The development is coming when founder of Jobberman, a job searching website, Mr Ayodeji Adewunmi, is joining Gokada as co-CEO.

Gokada has trained and on-boarded more than 1,000 motorcycles and their pilots on its app that connects commuters to moto-taxis and the company’s signature green, DOT– approved helmets.

The startup has completed nearly one million rides since it was established in 2018.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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