Treepz has announced its acquisition of a similar Ugandan bus company, Ugabus, in a bid to digitise the public transportation system and provide safer, reliable and comfortable commute options across Africa. Speaking on the acquisition deal, the Chief Executive Officer and Co-founder of Treepz, Onyeka Akumah, said the firm was excited to complete the deal. A statement quoted him as saying, “Everyone at Treepz is excited to welcome the team at Ugabus to the Treepz Family. The company has now closed its seed round at $2.8m which opened in August 2021. The new investors joining the round include Dubai-based venture capitalists including Blanford Capital and Jonomi Capital.

Source: Punch November 24, 2021 02:10 UTC