YEEG SAS, a company that operates ride-hailing startup Kai Senegal, has secured a seed investment from Mobility 54 Investment SAS, the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS.
The Toyota Tsusho/CFAO collaboration hopes to help local creative solutions to the many challenges that public transportation in West African countries encounters, such as low service quality, insecurity, and traffic congestion, through Mobility 54’s involvement.
Mobility 54 intends to use its extensive network in French-speaking West Africa to provide Kai with high-quality products and after-sales services across all of the company’s brands and local partners. Finally, the service will be marketed internally because it provides a comprehensive solution for employee mobility.
Kai was founded in 2018 with the goal of reinventing the ride hailing business. The company is built on three pillars: 1) a fleet management solution that allows private owners and institutional investors to purchase and maintain high-quality vehicles, 2) a digital ride hailing app that connects customers with drivers, and 3) a financing scheme that allows private owners and institutional investors to purchase cars as an asset and receive a regular interest-bearing payment.
Kai plans to bring a centralized approach to a previously fragmented market, with the goal of renewing the fleet of vehicles in order to provide a high-quality transportation service at a reasonable cost to both private individuals and corporate clients.
The ride hailing software will enable more efficient pick-ups and transparent pricing, while the financing plan will enable higher vehicle quality and, as a result, increased passenger safety.
Kai believes that human resources are critical to the company’s success, and he intends to continue to invest heavily in the training of his drivers, whether they are employees or partners.
The company is currently based in Senegal, with plans to expand to other West African countries by the end of 2022.
