Gokada pivoted from ride-hailing to last-mile logistics after a 2020 Lagos two-wheeler ban and now focuses on food, grocery, parcel delivery and e-commerce fulfilment. The company has integrated with payment providers like Paystack and Flutterwave and expanded enterprise offerings for customers such as Jumia and Fan Milk. Gokada reports about 4,000 riders and over 40,000 deliveries per month, citing 3x year-on-year order growth and 2x e-commerce market growth. Management says the company was profitable as of 2021; CEO Nikhil Goel grew revenue tenfold and delivery order volume a hundredfold by 2021. In 2022 Gokada opened an investment opportunity under NIPOST licence, partnered with Octamile to offer digital insurance, and appointed Olutosin Oni as CEO as it pursues further expansion. Gokada operates a motorcycle ride-hail app that has on-boarded more than 1,000 motorcycles and pilots and completed nearly 1 million rides since its 2018 founding. The company provides DOT-approved helmets, rider training and quality controls, and has a partnership with TVS Motors for custom bikes. Gokada charges drivers a flat fee of 3,000 Nigerian Naira per day (about $8) rather than splitting fares, and reports an average passenger fare of $1.85. It is experimenting with safety sensors and additional GPS tracking to monitor driver behavior. The startup plans to use new financing to increase fleet size and ride volume and to build a commercial network around drivers, including “Gokada club” restaurants and a “Gokada Shop” for driver supplies. Gokada intends to expand across Nigeria rather than enter new African countries in the near term.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2023