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Transtura acquires WazoMoney, to launch payment solutions for mobility sector

By Guardian Nigeria
09 February 2022   |   3:46 am
Nigeria’s e-hailing and shared-mobility company, Transtura, has acquired WazoMoney, a fintech startup, which provides simplified payment solutions, to launch its marketplace and payment solutions designed to cater to general transportation needs of Nigerians.

Standing: Co-founder and Project Manager, Wazo, Abdul Ridwan Olatunbosun Bosun (left); Marketing Lead, Wazo, Isaac Adun; Data Intelligence Lead, Transtura, Animashaun Titi and Co-founder and CTO, Transtura, Philips Olajide. Sitting: Legal and Compliance Lead, Transtura, Vincent Adeyemo (left) and Co-founder and CEO, Wazo, Stephen Ilori, at the signing ceremony between the Transtura and Wazo in Lagos.<br />

Nigeria’s e-hailing and shared-mobility company, Transtura, has acquired WazoMoney, a fintech startup, which provides simplified payment solutions, to launch its marketplace and payment solutions designed to cater to general transportation needs of Nigerians.

The strategic acquisition is aimed at redefining the mobility sector across the country through technological innovations so as to proffer sustainable solutions that address the issues affecting the transport industry. This is in a bid to champion the need for youth empowerment while also contributing to the socio-economic development of the Nigerian economy through the promotion of cashless payments.

Commenting on the successful acquisition of WazoMoney, the Chief Executive Officer (CEO) of Transtura, Vincent Adeoba, noted that the recent development reinforces the company’s commitment to drive unique digital innovations across the country’s financial and transportation ecosystems.

“Our vision as a customer-centric company is to become the most preferred everyday mobility superapp across the Nigerian market, and the African continent, through the provision of innovative service offerings, ranging from digital payments, marketplace, shared mobility, amongst other related services. To achieve our long-standing goals, we are leveraging on technology and automations to improve the experiences of people when either riding or paying for services in the public transit and mobility space. It is based on this desire to effect a change that we are building a platform that enables commuters, drivers, merchants, car owners and transport companies to make and receive payments for rides and travel services, purchase of motor parts, insurance coverage, car registration, documents renewal, car care, fueling and other needs through a marketplace and spend management solutions which will address some of the bottlenecks stiffening the advancement of the nation’s transportation sector,” he said.

Speaking on the development, the Chief Transformation Officer (CTO) for Transtura, Philips Olajide, stated that the recent acquisition would remodel the operations of both the finance and transportation sectors nationwide.

“For us at Transtura, we truly acknowledge the fact that Nigeria serves as a home of enormous opportunities designed to support ground-breaking technological solutions. This is because these innovations play an integral role in solving peculiar challenges which impact the country’s socio-economic standing. It is on this backdrop we, as a brand, seek to create unique solutions that address the myriads of problems plaguing the nation’s public transport sector with a special focus on marketplace, digital payments, intracity and intercity commuting,” he said.