WEST AFRICA – QuickBus, a Kenyan mobility startup, is planning to expand to Nigeria and Ghana after witnessing impressive growth in the five markets it is already operating in.
Quickbus was formally launched in 2019, as an online ticketing aggregation service, enabling the user to perform price comparisons and make bookings. Their business model involves sending proposals to bus companies, offering them a wider reach on their digital platform. Once an agreement is reached, they both agree on a revenue-sharing model.
Having initially launched in Kenya, the startup is now also active in four other markets, namely Uganda, South Africa, Angola, and Zambia. Managing director Humphrey Wrey said the startup was growing fast.
This growth is set to continue, with QuickBus shortly expanding into West Africa. The startup has processed over US$750,000 worth of tickets to date and takes a 10 per cent commission on tickets sold on its platform.
“The goal is to become the number one platform to plan and book intercity bus journeys, servicing the 800 million people who live and travel in sub-Saharan Africa.”
Humphrey Wrey – Managing director, QuickBus
“The goal is to become the number one platform to plan and book intercity bus journeys, servicing the 800 million people who live and travel in sub-Saharan Africa,” said Wrey.
With this in mind, QuickBus closed a US$1 million seed round at the end of last year, and Wrey said it is closing another one now as it gears up for a Series A by the middle of next year.
QuickBus has also secured seed funding led by Shorooq Partners (based in the UAE) alongside the Oman Technology Fund and EchoVC
Securing funds and hiring a former RedBus senior management talent to kickstart the project, Wrey launched QuickBus in Nairobi, Kenya. Now, the team is currently present in Angola, Uganda, South Africa, and Zambia with partnerships with more than 40 bus companies secured in these countries.
Wrey said that in the past two months, the startup has increased its revenue by 100 after seeing a slump in numbers during the pandemic-induced lockdowns across its markets.
According to him, the September sales for QuickBus stood at US$4,000; October, US$92,000 which is a 25x increase; and November projections peg revenues to hit US$410,000.
“We are set to do 100 times growth in two months from US$4k to US$400k,” he said.
Shorooq, the lead VC in the startup’s seed round is enthusiastic of the startup’s growth and thinks it can carry on the progress into next year.
“With the recent backing from the UK government and QuickBus’ clear path to a continent-wide expansion in 2021, we remain excited and humbled to be a part of the company’s journey.”
Since its inception, they have processed US$750,000 in tickets while taking a 10% commission from their sale. The intention is to become the leading platform in booking intercity bus journeys serving over 800 million people across Subsaharan Africa. Quickbus closed a US$1 million seed round toward the end of last year.
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