Treepz, Africa’s car-sharing and rental marketplace has been selected as one of the top 12 startups to participate in the highly esteemed 2023 VC4A Venture Showcase Africa.
The 2023 VC4A Venture Showcase Africa is renowned for celebrating and promoting exceptional startups that exhibit innovation, scalability, and potential for substantial impact on the continent.
“We are thrilled and honoured to be among the select few chosen for the 2023 VC4A Venture Showcase Africa,” said Onyeka Akumah, Founder and CEO of Treepz. “This recognition reaffirms our dedication to providing convenient and eco-friendly mobility solutions across the African continent.
Treepz’s inclusion in this prestigious showcase is a testament to its commitment to revolutionizing the future of mobility in Africa while contributing to sustainable transportation solutions.
Treepz’s selection for the showcase underscores its rapid growth and impactful presence in the African startup landscape. With a user-centric approach, cutting-edge technology, and a focus on sustainability, Treepz has redefined the car-sharing and rental experience, making it accessible to a wider audience and contributing to reduced carbon emissions.
According to , Onyeka “Treepz is primed to leverage the program, forging valuable partnerships and attracting world-leading investors to raise series A-funding, which will enable to continue investing in technologies and people to make car rentals a convenient and enjoyable experience in Africa, one rental at a time”
In conjunction with this remarkable achievement, Treepz is pleased to announce the appointment of new board members who will play a pivotal role in guiding the company toward sustained financial growth and innovation.
The newly appointed board members bring a wealth of expertise in various fields, including technology, transportation, and business development. Their insights will be instrumental in shaping Treepz’s strategic direction as it continues to evolve and expand. The new board members include :Jane Egerton-Idehen, an accomplished Fortune 500 technology Executive and Angel Investor as the Chair, Treepz Board of Directors.
Prior to the appointment, She was the Head of Meta’s (Facebook) Sales Division across Africa & the Middle East. Her extensive experience in the telecommunications industry and leadership roles at Avanti, Ericsson, and Nokia Siemens Networks make her a valuable addition to our board.
As the new Chair of the Treepz Board of Directors, Jane is expected to steer the Board and guide the management team at Treepz to ensure the company continues to grow its positive influence on Africa’s mobility sector while ensuring consistent profitable growth.
The appointment of the new Board of Directors marks a major milestone for Treepz which is preparing to celebrate 4 years of building across Africa in September 2023.
The company stated that the addition of the diverse expertise and valuable insights from these newly appointed board members, the company is well-equipped to scale its business even further.
Treepz is currently in 9 cities across 4 countries but over the next year, it plans to double these numbers with the guidance of the board and management of Treepz going forward.
Since late 2022, the company has been on a mission to enhance its financial sustainability and has seen its revenues grow by an impressive 77% quarter-over-quarter while reducing its operating expenses by more than 50% .
The company also achieved a phenomenal 98% increase in gross margin since the beginning of 2023 while 60% of all its markets have reached adjusted EBITDA breakeven in two consecutive quarters of 2023.
As always, I am immensely grateful for the continued support and trust that our shareholders and the community of hosts and guests place in Treepz. Together, we will redefine car rentals in Africa and build a brighter, more sustainable future for mobility on the continent,Onyeka concluded.