Congolese Startup Noki Noki Raises $3 Million for Market Expansion.

20 Jun 2024

Noki Noki, a startup from the Democratic Republic of Congo that specializes in logistics, has successfully raised $3 million in seed funding. This new capital will be instrumental in expanding the company's operations in its current six markets and extending its reach to new areas, including the DRC.

This investment round, led by Uma Ventures, highlights the growing confidence in Congolese startups, which are leading the way in attracting investment within Central Africa. Notably, in 2023, Congolese startups secured a substantial $62 million in venture capital, making them the primary drivers of startup funding growth in the region.

Launched in 2021 by Jonathan Yanghat, Noki Noki offers a suite of services such as Noki Food for meal delivery, Noki Drive for grocery shopping, and Noki Pay, a payment platform for its services. The company serves over 10,000 users and reported transactions surpassing 1 billion CFA francs ($167 million) in 2023.

"We started with just a few motorcycles and a big vision: to transform delivery and e-commerce across Africa. This funding is a significant step towards becoming a leader in last-mile delivery on the continent," said Jonathan Yanghat, CEO and co-founder of Noki Noki.

The startup is entering a competitive landscape that includes other logistics companies like Wikko, Vanoma, and Sualoo. A report by McKinsey indicates that Africa’s last-mile delivery market is growing at 25% annually and is expected to reach $80 billion by the end of the year.

"Jonathan Yanghat and his team have demonstrated a strong understanding of the market and the ability to lead it. Their vision aligns with our strategy of building tech-enabled infrastructure, and we are excited to support their growth," commented Vinay Vaswani, founder of Uma Ventures.

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