Despite this ruling, Kwik CEO Romain Peroit-Lellig insists that the company’s Nigerian operations are unaffected and financially stable. But a closer look reveals a web of unresolved debts, lawsuits, and widening cracks in the startup’s public reports.

This is a bad month for Kwik and it’s a case study in how unresolved debt, opaque cross-border structures, and shareholder defiance can converge to trigger a legal reckoning.

The bankruptcy was initiated by Adam Grant, a former head of sales who had previously taken the company to court for wrongful dismissal. He won a $120,000 settlement, later adjusted to $75,000. 

Only one payment, $25,000, was made. Kwik withheld the rest, pointing to issues over Grant’s French tax obligations.

“We asked [Grant] to guarantee us that he will take care of his income tax obligations. As usual, he refused to do so and instead, he filed for bankruptcy for his balance,” Peroit-Lellig said.

The Dutch court wasn’t convinced. It rejected the tax defence and ruled in favour of Grant, allowing the bankruptcy to proceed. Grant didn’t act alone, other creditors, including Nigerian lending firm B54, backed his assertions of Kwik’s reluctance to repay outstanding obligations.

B54, which extended a $50,000 loan to the startup, has also initiated legal action. According to co-founder Lanre Oyedotun, “B54 has had to institute legal proceedings against Kwik both locally and in Nigeria, and is joining other creditors in foreign proceedings.”

Peroit-Lellig disputes the weight of B54’s claim. “It is typical for companies to draft court documents to pressure debtors into payment, but they never file them in court due to consequent legal expenses,” he said, maintaining that no formal service has been made. He says he’s tried, unsuccessfully, to reach B54 for resolution.

Aside from the current case, Kwik has had issues with litigation. In May, Guardian Nigeria sued the company over unpaid rent for a warehouse in Abuja. According to Tive Ibru, a director at the Guardian, the case is still active. Again, Peroit-Lellig says he hasn’t been properly served.

The CEO insists these court cases do not compromise operations. He says Kwik has raised $6 million in total, $1 million of that as recently as this year, and only owes $2 million in convertible notes. “Whatever happened is not affecting the operations of the company,” he said. 

“The staff are getting paid from the Nigerian company, and riders are getting paid. Everybody’s getting paid. Fulfilment and delivery services are continuing without disruption.”

Even with this confidence, the declaration of bankruptcy hands control of the parent firm to a third-party administrator, who is now responsible for managing its assets and settling creditor claims. 

Involuntary bankruptcy means the court found enough evidence to conclude that the company lacked both the funds and the intent to settle what it owed.

Kwik’s situation differs from that of Gokada, another Nigerian delivery startup that filed for voluntary bankruptcy earlier this year. Gokada opted for Chapter 11, protecting itself while restructuring its debt. Kwik didn’t get that option, its creditors forced it into this.

Startups with offshore registration like Kwik are now being cautioned, especially after a Partech Africa report revealed that investor confidence in such structures has plummeted. Nigerian startup funding dropped 37% in 2024 alone. 

And PwC Nigeria’s research further outlines how rising operating costs and limited funding are squeezing the logistics market, making Kwik’s downfall feel less isolated, and more like a warning sign.

Kwik maintains it is trying to settle its issue with Grant’s legal team. But for many watching, this bankruptcy casts doubt both on Kwik’s financial standing and also on the sustainability of similar foreign-registered African startups.

Still, the company insists it’s not over. “We deeply appreciate the continued support from our customers, partners, delivery riders, and shareholders,” it said in a statement. “We remain fully committed to delivering high-quality service and value to all stakeholders.”

The partnership represents a significant milestone in the logistics and payment services sector.  MoMo PSB users can now initiate payments through the delivery company’s App and access it from the MoMo App, to make payments for their services.

“At MoMo PSB, our commitment is to enhance the lives of our customers through innovative and convenient financial solutions. This partnership with Kwik Delivery embodies that commitment, as it empowers our customers with greater convenience, speed and security when making payments for delivery services. We remain committed to partnerships that will advance digital payments in Africa,” said Eli Hini, Chief Executive Officer, MoMo PSB.

Speaking about the partnership, Romain Poirot-Lellig, Kwik Africa’s CEO emphasised its customer-centric nature, stating,

“At Kwik, our mission is to provide efficient and reliable delivery services. We understand that a seamless payment process is a vital component of this mission. Partnering with MoMo PSB enables us to offer our customers an innovative solution, reducing payment restrictions and improving their overall experience. By integrating our services with MoMo, we’re extending the reach of our platform and opening up a world of convenience for our users.”

In the era of digital transformation, MoMo PSB and Kwik Africa are determined to simplify the lives of their customers, making payments for deliveries and logistic services more accessible and efficient than ever before. Kwik Delivery service is currently available on the MoMo App or by dialing *671#.

To open a MoMo account, MTN subscribers can dial *671# on their mobile device.  The MoMo mobile app option is also available for download on the Google Play or Apple Stores.

KwikShelf is a 1,125 sqm facility located in Iddo House, Oyingbo in the center of Lagos, opening this September. From this safe, secure, and central location, Nigerian merchants will be able to book warehousing space on demand and entirely outsource the storage & fulfillment of their inventory in a scalable, affordable, and efficient manner.

“KwikShelf will enable Nigerian businesses and merchants to position their fast-moving inventories at the heart of Lagos and to deliver orders to their customers in record time. Whether you need one square meter or a hundred, for a month or for a year, KwikShelf will give you the required flexibility and will ensure your products reach your customers at kwik speed. And no more fixed costs” declared Kwik’s CEO Romain POIROT-LELLIG.

“KwikShelf is a groundbreaking project mixing e-commerce and commercial real estate in Nigeria.  We are delighted that a key part of A.G. Leventis Nigeria’ commercial real estate portfolio is warehousing this” declared Seun ONI, CEO of A.G. Leventis (Nigeria) Limited, owner of Iddo House.

KwikShelf aims to develop up to 20 e-commerce fulfillment centers in large Nigerian cities to address the fast-growing demand for flexible warehousing & fulfillment solutions in the country. Its fulfillment services are fully integrated with Kwik’s award-winning last-mile delivery service.

“While the rise of e-commerce in Nigeria has taken longer than expected, e-commerce transactions are starting to take over offline transactions at Kwik. This is consistent with rising living and transportation costs. Supply-chains are scrambling for efficiency and KwikShelf is ideally positioned to enable this” declared Yinka OLAYANJU, cofounder & COO of Kwik.

Kwik was founded in 2018 by Romain POIROT-LELLIG, Iyeyinka OLAYANJU, and Olivier DECROCK in Lagos to create a one-stop-shop digital platform for logistic services in Africa. The company connects delivery partners and warehouse owners with merchants and businesses and also provides financial and payment services to its customers.