One year and A million rides after, Gokada has just closed a $5.3 million Serie A round.

Gokada is an on-demand transportation company or motorbike hailing service headquartered in Lagos, Nigeria founded by Deji Oduntan and Fahim Saleh. Via the app, website or roadside, customers can order a motorbike ride to their preferred destination. Like Uber, but for two wheeled 200c motorbike engines. Gokada isn’t the first of its kind in Africa, or even Lagos where it is based. Before now, there was Safe Boda from Uganda which recently announced its plans to infiltrate the Lagos market and Max.NG, arguably Gokada’s biggest competition.

Asides completing 5000 rides daily, Gokada has trained and on-boarded over 1000 motorcycles and their pilots on its app that connects commuters to moto-taxis and the company’s signature green, DOT approved helmets. For Gokada’s Series A, Rise Capital led the investment joined by Adventure Capital, IC Global Partners, and Illinois based First MidWest Group. Nigerian investor and Jobberman founder Ayodeji Adewunmi led the round and will join the company as co-CEO. While Uber and Taxify go head-to-head in the competition to lead Africa’s mobility market share, more startups are springing across Africa to fix one of the continent’s biggest problems – transportation and Africa’s motorcycle taxi market is becoming a significant sub-sector in the continent’s e-transport startup landscape.

Africa’s Okada/Boda Boda market represents a collective revenue pool of $4 billion and expected to double to $9 billion by 2021.

According to Saleh, the company will use the financing to increase its fleet and ride volume, while developing a network to offer goods and services to its drivers. “We’re going to start a Gokada club in each of the cities with a restaurant where drivers can relax, and we’ll experiment with a Gokada Shop, where drivers can get things they need on a regular basis, such as plantains, yams, and rice.”

Gokada recently launched a new CSR service, G-Medic to provide first aid treatment to accident victims at zero cost.

Richard Ogundiya

Journalist & Techpreneur. Africa, communications and data.

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