An e-commerce platform Copia Global has raised $26m Series B funding round to finance its expansion across the country and also to the East African sub-region.
Our source discloses that the funds were provided by five investors including Amsterdam-based Goodwell Investments, which already pumped $2 million in the company in January this year.
Copia Global, which begins operations in 2013 in Kenya. Copia Global has raised a total amount of $48 million since its inception.
The company leveraged on a network of digitally-enabled, locally based agents who operate as ordering and delivery points for the purpose making quality goods accessible to rural and peri-urban consumers. Copia’s current delivery region covers 22% of Kenya’s rural population, which is more than 180,000 consumers.
Kenya’s e-commerce sector has grown significantly over the last few years and some believe it is still in the formative stages. Although, consumers are opening up to the idea of online shopping and relatively few fully fledged online companies are already in operation in the country.