Tech

Kenya’s trans-tech startup, BasiGo, raises $6.6m funding to commence commercial delivery of electric buses

Published

2 years ago

November 16, 2022

Kenyan trans-tech startup, BasiGo, has successfully raised $6.6 million in new seed funding to enable it commence full commercial delivery of locally-manufactured electric buses and charging infrastructure.

The startup which provides state-of-the-art electric buses along with charging and maintenance services for bus operators, will make the vehicles affordable through a financing model that allows operators to pay for the battery and charging separately from the bus through a pay-as-you-go financing arrangement, according to Jit Bhattacharya, the CEO of BasiGo

In November of 2021, BasiGo had launched operations in Nairobi having secured KES100 million (US$900,000) in funding earlier in the year and in February, had also raised a $4.3 million seed funding to help it commercialise its business model and to begin the assembly of electric buses locally, and now has topped its funding drive with the additional $6.6 million.

“BasiGo is thrilled to have the backing of investors who are leaders in the automotive sector and climate finance.

“Over 90 per cent of Kenya’s electricity already comes from renewables. Yet Kenya’s transport sector relies entirely on imported petroleum fuels. By electrifying Kenya’s public transport, we can make an immediate dent in climate emissions, clean up the air in our cities, and give bus owners relief from the rising cost of diesel.

‘With this new funding, BasiGo is ready to bring the benefits of state-of-the-art electric transport to all people in Africa.

“All buses delivered in 2023 will be locally assembled in Kenya, and the startup aims to have over 1,000 electric buses deployed in Kenya by the end of 2025,” Bhattacharya said.

Click to comment

Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

13 hours ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

2 days ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.