Egypt's Acasia Ventures Joins $1M Investment in Nigeria’s Fez Delivery

Acasia Ventures, a VC firm based in Egypt, has joined a $1 million seed investment round in Fez Delivery, a last-mile delivery platform based in Lagos. The investment round was led by Nigeria-based discovery fund Ventures Platform.

Launched in 2018 by Seun Alley and Femi Jose, Fez Delivery seeks to fill a gap in Nigeria's logistics industry, using a flexible pricing model that depends on the type of parcel being delivered and the distance of delivery.

Fez Delivery was previously part of the Techstars Accelerator Program, where it raised $100,000 for its pre-seed investment.