The startup modernizing Nigeria’s transport industry
T40 Technologies offer optimized tech solutions for Nigeria’s transport operators. They provide SaaS to transport and logistics companies to increase the productivity and effectiveness of their operations throughout Nigeria.
The startup initially launched in 2020 by providing a global distribution system (GDS)-based online ticketing solution, allowing travelers to search for trips and compare fare prices from different transport companies, as well as make cashless payments in advance of a trip. Yet T40 was reformulated to support transport operators and sister company Intercity was developed to digitize road transport operations for providers and commuters.
T40 Technologies joined the Startup Wise Guy’s SaaS Africa accelerator in 2022. The team explained that they were motivated to enroll as the skill They “needed help building our SaaS model and they offered us a program that was going to deliver just that. We joined and weren’t disappointed one bit.” They found that the program helped in more than just the acquisition of tech expertise. Founder Folarin tells us that “we matured together as a team, we better understood our market and our solution. We enjoyed a massive reputation boost in our market and of course, we found it easier to raise additional funding once investors learnt that we joined the program.
The founders
Folarin Olulana, a computer engineering undergraduate in Nigeria knew the everyday pains of his country’s transport infrastructure. He almost missed a critical university exam after his chosen transport provider canceled at the last minute leaving him with no alternatives.
Immediately after graduating he began thinking of ways to solve these issues. Folarin explains “This is how T40 started. We began by offering consulting services to a small regional operator and now we have built the digital operating system for intercity transport and logistics service providers.”He then left Nigeria to study Telecommunications Systems and Networks in Ukraine and went to work for industry-leading aviation companies like Airbus and Lufthansa. He came back experienced in the software he wanted to implement in his startup.
“Building a company has taught us the value of patience. In our journey so far, we see that we must be patient to learn and evolve and give ourselves the time to grow. This is also really critical in our decision-making process now.”
Projections
What’s next for T40 Technologies ?
T40 technologies is looking to continue expanding their team and markets. Pilots have been run in Kenya and they have been looking to include the markets of Tunisia, Ghana, and Zambia. Folarin explains that they are “very intentional about designing solutions that cater for pan-African use.”
Facts about T40 Technologies*
Founded in:
2020
Batch:
SaaS Africa 2022
Active in:
🇳🇬
Team members:
23
Funding raised: $300K
*June, 2023
