ImpactAlpha, January 20 — African economies rely heavily on spending by the continent’s approximately 750 million low- to middle-income consumers. Kenya’s Copia Global, founded by Silicon Valley veterans, streamlines the delivery of goods, especially in low-income rural areas.
In Kenya and Uganda, 25,000 mostly women shopkeepers or agents take orders that Copia delivers at no cost, typically within 24 to 48 hours. It has completed more than 10 million orders since 2013.
Returns on inclusion
The Series C round was led by Dutch impact investor and early backerGoodwell Investments, with the U.S.International Development Finance Corp. and LGT Lightrock.
“Copia broadens access to affordable household goods for families, regardless of their income level, access to technology or location,” said Goodwell’s Els Boerhof.
Copia, which has raised $103 million to date, is expanding to Rwanda and Tanzania.
