An Ibadan-based food delivery startup, supported by Y Combinator, is planning to expand its services to Abuja and Benin soon. The startup aims to increase its revenue significantly through this expansion, bypassing the competitive market in Lagos.
The CEO and co-founder are currently in talks to secure funding for the expansion, which has been well-received by investors. Despite facing challenges in the sector, the startup has maintained positive cash flow and steady growth in gross merchandise value.
The company’s focus on operational efficiency has led to sustainable growth, with plans to further increase its revenue in the near future. By strategically selecting cities for expansion and offering competitive services, the startup aims to capture market share effectively.
With a strong presence in Ibadan, the startup has established itself by providing excellent customer service and unique strategies, setting it apart from competitors. By focusing on local vendors and optimizing delivery logistics, the startup has gained traction in the market.
Retaining drivers has been a challenge for the company, but efforts are being made to offer benefits and incentives to ensure their loyalty. Additionally, plans to introduce electric vehicles for delivery are in consideration to maintain operational efficiency.
Overall, the startup has achieved significant milestones and aims to continue its growth trajectory in the food delivery sector.
