Tech in Africa
Copia Global a Kenya B2C e-commerce company has raised a $50 million Serie C round led by Goodwell Investments. The funds will go towards growing its model across East Africa – mainly Kenya and Uganda, as well as Rwanda and Tanzania in the future.
This new round drew investors such as Zebu Investment Partners, the U.S. International Development Finance Corporation (DFC), Koa Labs, including past investors in German development finance institutions DEG, Lightrock, and Perivoli Innovations.
This round comes three years after the $26 million Series B. Thus far the company raised $33.5 million in Series A and B funding. The inclusion of this Serie C raises the amount of $83.5 million.
Copia Global a B2C e-commerce platform was founded by Tracey Turner and Jonathan Lewis serves middle- and low-income consumers across Africa. The company focuses on customers in rural areas that struggle to access similar goods and services in their choice, value, price, and reliability.
Copia currently has over 1.4 million unique customers, a number that is doubling every year. The company aspires to deliver these products to thousands of customers daily – fulfilling over 10 million orders to date. Depending on the macro economic and socioeconomic conditions, Copia is looking to expand to Ghana, Nigeria, South Africa, Cote d’Ivoire, Mozambique, Zambia, and Malawi.
Source: TechCrunch
