Grace Ashiru
African electric logistics company Bisedge has secured €10 million ($11.2 million) in debt financing from Finnfund, Finland’s development finance institution, to expand its electric industrial equipment operations across Africa.
The investment marks Finnfund’s first electric vehicle financing deal in Africa and establishes a strategic partnership with Swedish impact investment platform Trine.
The funding will support Bisedge’s expansion of electric forklift fleets in Nigeria, Kenya, and Tanzania, helping businesses transition from diesel-powered equipment to cleaner alternatives.
Founded in Lagos in 2020 and now headquartered in Mauritius, Bisedge provides electric material-handling equipment and logistics services to businesses operating in manufacturing, warehousing, and distribution.
The company operates a Zero Capital Expenditure (Zero CapEx) model, allowing customers to access forklifts, warehouse tractors, and other industrial equipment through recurring payments instead of purchasing them outright.
Under this arrangement, Bisedge manages equipment maintenance, fleet operations, and performance, reducing upfront costs for businesses adopting electric technology.
Bisedge serves as the exclusive African partner of German equipment manufacturer Linde Material Handling across nine markets. Approximately 95% of its equipment fleet is electric, while its operational network supports more than 1,350 employees.
The latest financing follows a $20 million equity investment secured from pan-African private equity firm Metier in May 2026.
Trine, which has supported Bisedge since 2021, has previously facilitated approximately €16.5 million in financing to help the company expand its operations.
The new investment is also supported by the European Union-backed EDFI Renewable Energy Transition programme, which provides guarantees to encourage investment in clean energy projects across emerging markets.
According to environmental assessments cited by Finnfund, replacing diesel forklifts with electric alternatives in Nigeria could reduce carbon emissions by approximately 37 tonnes per forklift annually.
Despite growing demand for sustainable logistics, African businesses continue to face challenges including expensive equipment, limited financing, and inadequate supporting infrastructure.
Bisedge aims to address these barriers by making electric industrial equipment more affordable through its subscription-based service model.
The investment highlights growing institutional interest in Africa’s clean transportation and logistics sector, while positioning Bisedge to accelerate electric equipment adoption across the continent.
