CloudTrucks, a digital platform which helps truck drivers find work and organize their business, and founded by Tobenna Arodiogbu, George Ezenna  and Jin Shieh,  have raised $20.5 million in a Series A round led by Caffeinated Capital with participation from Craft Ventures, Khosla Ventures, SciFi VC, Kindred Ventures, Abstract Ventures, and Better Tomorrow Ventures.

Cofounder and CEO Tobenna Arodiogbu said that the problem they were trying to solve was basically helping truck drivers manage their business better.

“We noticed that more and more drivers wanted to take control of their schedule and become entrepreneurs, and needed a lot more help with managing everything: from revenue, cash flow as well as minimizing their costs,” Arodiogbu says.

CloudTrucks has built a mobile app where drivers can see loads coming from many different shippers across the country, and the company has an algorithm (called Schedule Optimizer) which helps drivers make better decisions on which loads to take to increase their revenue.

Logistics and supply chain startups are hot in every part of the world. As the pandemic dislocated the world, many companies went on to depend on these firms to help organize some components of their factors of production.  In Nigeria, players like Zido Logistics have recorded huge growth as a result of the redesign.

CloudTrucks has done well in a very short time: “The company, which launched in May of this year, has grown to $1.8M in freight transactions over the past 6 months and the company is growing 40% month over month, doing over 300 deliveries on a monthly basis.” The world runs on a supply chain!

There is no other way to say it: Nigeria is indeed becoming a challenging place for its citizens. When you have a country where more than 330 kids could be moved on bikes and no one will know, you will get an idea of a messed up country. Visit your local primary or secondary school today. Watch at the end of school closure. See the number of kids. Imagine what it would take to move half of those kids, from one location, for miles, and an alert would not trigger in the law enforcement circuit, you will understand the mess Nigeria has found itself! America is very blunt here: “Crime is endemic throughout Nigeria”. 

Holiday Security Alert:  U.S. Mission Nigeria (December 16, 2020)

Location:  Nigeria

Event:  Holiday Security Alert

The U.S. Embassy in Abuja and Consulate General in Lagos remind U.S. citizens to exercise caution while traveling and residing in Nigeria.  Crime is endemic throughout Nigeria, ranging from petty street crime to carjacking, and crime levels tend to increase during the holidays.  It is prudent to exercise particular caution during the holiday season and at holiday events.

Demonstrations are relatively commonplace in Nigeria and generally affect traffic flow, especially if they progress along major thoroughfares.  Criminal and other elements often infiltrate large gatherings.  Terrorist organizations and individuals inspired by extremist ideology exist throughout Nigeria.  Shopping centers, airports, hotels, clubs, restaurants, places of worship, transportation hubs, street markets, and other public venues frequented by Westerners are common attack targets.

Actions to Take:

• Be aware of your surroundings.
• Keep a low profile.
• Carry proper identification.
• Stay alert in public places and locations frequented by tourists/Westerners.
• Review your personal security plans.
• Use caution when driving at night and avoid walking after dark.
• Always drive with your windows rolled up and the doors locked.
• Review and alter travel routes and times to reduce time and place predictability.
• Avoid large gatherings and protests.
• Exercise caution if unexpectedly in the vicinity of large gatherings or protests.
• Monitor local media for updates.
• Always keep the doors to your residence locked, even when at home.

Everyone wants to play in the digital space, and Access Bank will not like to be left behind. Yes, Africa’s largest bank by customer base has unveiled Swiftpay, a digital payment for SMEs. 

Ladies and gentlemen, It gives me great pleasure to announce SWIFTPAY… by Access Bank. A payment acceptance service that we have introduced to support the transition and growth of our business customers.

SWIFTPAY is just a payment link that when hosted on your social media page, you can send to anyone to pay you. It is easy – less than 5 minutes to sign up, convenient, straight through and time savings for everyone. It takes less than 5 minutes to sign up. (from the Bank)

Meanwhile,  Interswitch Group, 20% owned by Visa, has partnered with Kenya’s Credit Bank Plc to launch a multi-currency prepaid card. The card, is aimed at providing consumers with an excellent alternative banking card that allows for safe, secure, and seamless electronic transactions.

Romana Rajput, Country General Manager, Interswitch Kenya, stated at the launch that the partnership is a boost to Interswitch’s issuing business, adding that it is further proof of the company’s leadership position in the financial services industry on the continent. “This is definitely a boost to Interswitch’s issuer-support & third-party processing business. We have been around for a while and we intend to keep entrenching digital payments in East Africa and across Africa as a whole. Now, customers will have access to the prepaid cards without necessarily having a bank account. The card can be funded through mobile money and it is widely accepted by merchants for payments and at the ATMs for withdrawals,” Rajput said.

Mr. Jack Ngare, Credit Bank Director, noted that the product is aimed at increasing financial freedom for the banked, unbanked, and under-banked. “It is our aim to provide our customers with the control and confidence they need to manage their money smartly. Membership of the Visa network will allow the cardholders to use it worldwide for payments and withdrawals, and to transact safely online and at ATMs,” Ngare said. (from press release)

The digital playbook is the future, and everyone is looking for a space on that checkout page. You must pay attention to this redesign. Yes, a learner paid us $140 via Bitcoin two days ago for Tekedia Mini-MBA. After fees, the processor left $138.xx in the wallet. But within 24 hours, that $138.xx has moved to $156. Simply, Bitcoin went up and that receipt followed. 

People, the digital world has so many unknowns, and this decade would be super-amazing. How can somebody pay you “money” that “appreciates and depreciates” at scale? I have done some modelling here; I will give anyone paying with Bitcoin a 10% discount for Tekedia programs. Bear and bull probability is working here. Click here for the product prices; apply the 10% discount, and checkout with the Coinpayment option.