January 21

Kenyan E-Commerce Company Copia Global Raises $50 Million to Ramp up African Expansion

By Tage Kene-okafor

Kenyan B2C e-commerce company Copia Global has raised $50 million in a Series C equity round led by Goodwell Investments.

The new financing round welcomed new investors such as Zebu Investment Partners, the U.S. International Development Finance Corporation (DFC), and Koa Labs, as well as past investors Lightrock, German development finance institution DEG, and Perivoli Innovations.

The round comes three years after Copia’s Series B round of $26 million. The company has raised a total of $33.5 million in Series A and B funding. But including its Series C, Copia’s total funding since inception in 2013 now stands at $83.5 million.

Photo courtesy of USAID Digital Development.

Source: TechCrunch (link opens in a new window)

Finance, Technology