Nigeria: billionaire Zhang Lei backs Kenya’s Lori Systems
Operating a digital platform to match supply and demand for transport services, the company founded in 2016 is looking to grow in West Africa with a $20m funding round.
18/11/2019 at 17h14, by Pierre-Olivier Rouaud
Nairobi-based start-up Lori Systems was established in 2016 and has recently added some heavyweight Chinese investors to its funding round. These are headed by the giant Hillhouse Capital Group (JD.Com, Tencent etc.), founded by billionaire Zhang Lei, and Crystal Stream, an early-stage fund co-founded by Wang Mengqiu, a former executive at Baidu Tech.