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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.

Alterra Capital Partners, a private equity firm founded in 2020 by former Carlyle Group employees, has raised $140 million in the first closing of a $500 million fund focused on investments in Africa.

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is planning to invest up to $8 million in Aruwa Capital Fund II, a private equity fund targeting small and medium-sized enterprises (SMEs) in West Africa.

Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.