Nigerian startup Messenger is transforming the gig economy and logistics industry by offering asset financing and credits specifically tailored to empower gig workers and logistics operators in Nigeria.
- Originally operating as a traditional logistics business, Messenger recognized the need for financing solutions for last-mile players in the logistics sector. With the rapid growth of e-commerce and trade in Nigeria, the demand for logistics and fulfillment services has increased, creating a gap in financing options.
- The founders of Messenger, Amanda Etuk and Essien Etuk, incorporated technology into their business model and pivoted to address the challenges faced by traditional logistics organizations, focusing on supporting gig workers and logistics operators.
- Unlike local logistics players and finance houses, Messenger stands out due to the impact it creates and its deep understanding of the sector, gained from over five years of operating traditionally and managing logistics for innovative companies.
- The startup has already gained traction, with over 4,000 users on its delivery hailing platform and the financing of 150 motorcycles. It has also secured funding from The Baobab Network and Nama Ventures, and was selected for the prestigious ASIP accelerator program by Startupbootcamp AfriTech.
- Messenger generates revenue through commissions on local deliveries, insurance services, and interests on its asset and operations financing. Since its launch, the company has earned close to US$1 million.
- Looking ahead, Messenger plans to expand its services across Francophone Africa, recognizing similarities in the people and markets within the region. By combining logistics and finance, the startup aims to cater to the ubiquitous industry, with potential for expansion across the entire continent.