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Shuttlers, a Nigerian innovative shared-mobility platform, has secured $4 million in funding for expansion.
The funding round was led by Verod-Kepple Africa Ventures, with follow-on investment from VestedWorld, EchoVC Partners, CMC 21 & Alsa, and SheEquity. Founded in 2016, Shuttlers offers a range of shared transportation options, including buses, vans, and cars, with routes that cover major cities and suburbs across Nigeria. Their app-based platform allows users to book rides in real-time, and the company is committed to providing safe, comfortable, and reliable services. The company aims to make transportation more accessible and affordable for all Nigerians.

Impact Fund Denmark has declared a new $15 million investment in the Verdant Capital Hybrid Fund (VCHF) to expand financing for small businesses and entrepreneurs across Africa.

Metro Africa Xpress (MAX), a Lagos-based mobility financing firm, has secured $24 million in a combined equity and debt investment, reinforcing its shift to electric vehicle (EV) financing across West and Central Africa while building on recent profitability in its home market.

Proparco, the French development finance institution, has pledged $42 million toward the initial closing of African Development Partners IV (ADP IV), the newest investment fund managed by London-based private equity firm Development Partners International (DPI).