Grace Ashiru
Spiro, an electric motorcycle company operating in Africa, has obtained a $7 million loan from US-based climate fintech financier Nithio to fund expansion of its EV fleet, battery-swapping infrastructure, and working capital.
The facility represents Nithio’s first investment in Africa’s electric mobility sector.
Founded in 2022, Spiro has raised nearly $290 million in total funding. The company raised $100 million in October 2025 in a round led by the Fund for Export Development in Africa.
The debt financing will support Spiro’s expansion across existing and new markets where motorcycles serve as critical components of urban transport and logistics networks.
Spiro operates battery-swapping infrastructure and provides electric two-wheelers in African markets.
The transaction signals institutional capital deployment into electric vehicle solutions on the continent as the sector develops commercial viability.
