Industry Newsroom

Kobo360 Receives USD20 Million Series A Investment Round Led by Goldman Sachs

Nigeria-based freight logistics business Kobo360 has secured USD20 million in a Series A funding round led by global asset manager Goldman Sachs. Additional participants in the round include early-stage investors TLcom and Y Combinator, development finance institution IFC, Asia Africa Investment & Consulting, and local Nigerian banks. Kobo360, which helps truck drivers and companies connect with delivery services through a mobile application, plans to use the capital to hire drivers, improve its technology, and expand operations across the continent.