Mobility start-up Treepz expands further in East Africa
African mobility start-up, Treepz has expanded its operations in East Africa with the launch of Treepz Kenya after securing investment deals of about $1.2 million in the last one year. The CEO and co-founder of the mobility firm, Onyeka Akumah says State owned partnerships are underway which will grow the bottom-line of the company by thirty per cent within the next quarter.
Tue, 14 Feb 2023 12:03:48 GMT
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AI Generated Summary
- Treepz's strategic expansion into Kenya underscores the company's commitment to addressing the mobility needs of millions of Africans by providing innovative and quality commuting solutions.
- Investors have shown enthusiasm towards Treepz's technology-driven approach and market potential, with the company raising significant funding to support its growth and development.
- The addition of Kenya to Treepz's operations is expected to drive a substantial increase in profitability, with strategic partnerships and a focus on business trips contributing to the company's financial growth and market reach.
African mobility start-up Treepz has made significant strides in expanding its operations in East Africa with the recent launch of Treepz Kenya. The company has secured investment deals amounting to about $1.2 million in the last year, a testament to its growth trajectory. The CEO and co-founder of Treepz, Onyeka Akumah, has expressed optimism that state-owned partnerships currently in the works will boost the company's bottom line by thirty per cent within the upcoming quarter.
The philosophy driving Treepz's expansion is rooted in addressing the significant mobility needs of over 600 million people who commute across Africa annually. With a focus on enhancing the quality, comfort, and convenience of commuting experiences, Treepz identified Kenya as a strategic market due to the high volume of daily commuters in the country. By leveraging their technology, Treepz aims to provide a service that resonates with Africans, offering them a dependable and exciting commuting solution.
The decision to venture into Kenya not only complements Treepz's presence in Uganda but also cements its commitment to establishing a strong foothold in the East African region. The company plans to extend its reach to countries like Ethiopia and Tanzania, further solidifying its position as a key player in East Africa's mobility sector.
Investors have shown keen interest in Treepz's innovative approach to mobility solutions. With total funding of $4.5 million since inception and $1.2 million raised in the last year alone, the company is poised for sustainable growth. Treepz's focus on leveraging technology, market potential, and a talented execution team has garnered positive attention from stakeholders and investors.
The addition of Kenya to Treepz's business portfolio is expected to have a significant impact on the company's profitability. By securing partnerships with prominent organizations such as Twiga Foods, Diamond Trust Bank, and Abacos School, Treepz has set the stage for exponential growth in the Kenyan market. State-owned partnerships on the horizon are also projected to drive a notable thirty per cent increase in the company's bottom line within the next quarter.
Treepz's performance across various business segments has been robust, with different markets presenting unique opportunities. In Nigeria, the company has witnessed strong demand for its vehicle rental service, business trips, from both corporate and individual clients. Ghana and Uganda have also shown promising results in the vehicle rental space. Moving forward, Treepz has strategically decided to focus on enhancing its business trips service across all markets to maximize profitability, market penetration, and service quality.
With a unified product offering geared towards business trips, Treepz aims to establish a standardized service that caters to diverse African markets, ensuring a seamless and efficient commuting experience for its customers. The company's forward-looking approach underscores its commitment to driving innovation, sustainability, and profitability in the African mobility landscape.