Transtura rides on WazoMoney acquisition to launch payment, marketplace solutions
Transtura, a Nigerian e-hailing and shared-mobility company, is set to launch its marketplace and payment solutions designed to cater for the general transportation needs of Nigerians with the recent acquisition of WazoMoney, a fintech startup that provides simplified payment solutions.
Vincent Adeoba, CEO, Transtura, said the successful acquisition of WazoMoney reinforces the company’s commitment to driving unique digital innovations across Nigeria’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,” he said.
According to him, the strategic acquisition is aimed at redefining the mobility sector across the country through technological innovations so as to proffer sustainable solutions that address issues affecting the growth of the transport industry.
Adeoba posits that acquisition 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.
“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,” said Adeoba.
He states further that Transtura is leveraging on technology and automation in achieving its long-standing goals to improve the experiences of people when either riding or paying for services in the public transit and mobility space.
Philips Olajide, Chief Transformation Officer (CTO), Transtura, said that the recent acquisition would remodel the operations of both the finance and transportation sectors nationwide. This is because these innovations play an integral role in solving peculiar challenges which impact the country’s socio-economic standing.
“For us at Transtura, we truly acknowledge the fact that Nigeria serves as a home of enormous opportunities designed to support groundbreaking technological solutions. 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,” said Olajide.