Finance

WhereIsMyTransport raises $14.5 million Series A round for emerging markets expansion

WhereIsMyTransport raises $14.5 million Series A round for emerging markets expansion
Tuesday, 08 June 2021 11:39

South African-founded startup WhereIsMyTransport, has raised $201 million (about $14.5 million) in a Series A round. The company actively present in South Africa and Mexico aims to continue its expansion across emerging markets with this new round of funding.

Naspers, through its investment arm, Naspers Foundry, led the founding round with participation from Cathay AfricInvest Innovation Fund, and Japan’s SBI Investment. Of the total amount raised, Naspers Foundry is committing R42 million (about $3 million).

WhereIsMyTransport, a mobility technology company that maps formal and informal public transport networks has clients including Johannesburg commuter rail system Gautrain, and Transport for Cape Town. As of last year, the company has mapped 34 cities with over 100,000 users in Africa.

WhereIsMyTransport is funded by 13 investors. Naspers, Cathay AfricInvest Innovation Fund, and SBI Investment join Global Brain Corporation and Google as the most recent investors.

“Mobility remains an obstacle for billions of people in high-growth markets across the world. Our investment in WhereIsMyTransport is a testimony of our belief that great innovation and tech talent is found in South Africa, and with the right backing and support, these businesses can provide solutions to local challenges and can improve the lives of ordinary people in South Africa and abroad,” said Phuthi Mahanyele-Dabengwa, Naspers CEO.

solange che

On the same topic
Kenya signs supplementary budget raising spending to 4.69 trillion shillings Funds target security, education, housing, agriculture, health...
Gabon considers agency to strengthen asset recovery efforts Proposal targets illicit financial flows, financial crime enforcement Plan...
Zimbabwe launches new “BiG5 ZiG” banknotes to boost confidence Rollout starts with lower denominations, higher notes to follow Move supports...
Nigerian bank completes full acquisition of Paramount Bank Kenya Deal marks Zenith’s entry into Kenya and broader East African...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...

Coca-Cola Plans $1 Billion Investment in South Africa After Nigeria Push
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.