Shared Mobility Startup, Plentywaka Raises $1.2 Million Seed Round, Acquires Stabus Ghana •
Summary
Toronto-headquartered shared mobility startup, Plentywaka has announced a $1.2 million seed raise a month after completing the Techstars Toronto Accelerator program in July 2021. On the back of this raise, the company also revealed that it had acquired Ghanaian mobility startup, Stabus as it looks to expand its African operations, starting with West Africa. According to Akumah, on September 16th, 2021, Stabus would launch as Plentywaka Ghana, with Kpotufe becoming Country Manager while retaining team members from the Ghanian startup. Akumah says Plentywaka has currently onboarded 963 vehicles with about 100,000 unique users and a team just shy of 50 members — a factor he says has been integral to the company’s success. “Given Onyeka’s proven track record, his team’s undeniable thirst for making an impact, and Plentywaka’s impressive growth, we knew this was an opportunity we wanted to invest in.” Per the company’s statement, in line with its expansion plans, it will be looking for the right kind of partners and investors to join the black and yellow movement — Plentywaka’s colours — to provide the best-in-class transportation service connecting cities and communities with technology across Africa.