Tech in Africa
Shorooq Partners (based in the UAE) led the seed funding round alongside the Oman Technology Fund and EchoVC – investing an undisclosed sum into Quickbus.
Quickbus was formally launched in 2019, as an online ticketing aggregation service, enabling the user to perform price comparisons and make bookings. Their business model involves sending proposals to bus companies, offering them a wider reach on their digital platform. Once an agreement is reached they both agree on a revenue-sharing model.
The adoption of technology has helped formalize the sector, even introducing seat reservations and ratings. Based in Nairobi, the group is already operating in Zambia, South Africa, Angola, and Uganda. The startup now has its eyes set on the West African market.
Since its inception, they have processed US$750,000 in tickets while taking a 10% commission from their sale. The intention is to become the leading platform in booking intercity bus journeys serving over 800 million people across Subsaharan Africa. Quickbus closed a $1 million seed round toward the end of last year.
