Industry Newsroom

IFC Leads Seed Round of US$6 Million for Kobo360 (Africa)

International Finance Corporation (IFC) has led a seed investment round of US$6 million for Kobo360, a Nigeria-based digital logistics platform serving agribusiness, consumer goods and manufacturing companies with long-haul freighting needs. Other investors in the round include private equity and venture capital firms Cardinal Stone Partners, Chandaria Capital, Sequoia Scout, Verod Futures Fund, Western Technology Investment, Y Combinator and TLcom Capital, which invested through its Technology and Innovation in Developing Economies (TIDE) Africa Fund. As part of the transaction, TLcom’s Omobola Johnson and IFC’s Wale Ayeni will join the board of Kobo360.