Kenyan e-commerce startup, Copia, has raised $2 million from Dutch impact Investor Goodwell Investments. The funds will be pumped into the company’s expansion in Kenya and other emerging rural markets across Africa and beyond.
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Following this investment Goodwell Investments has now acquired an undisclosed stake in Copia.
Copia’s main vision is to supply products and services to “Base of the Pyramid” (BoP) consumers, particularly those in the rural areas. They have achieved their goal through a combination of technology, local agents, efficient delivery strategies, a broad and affordable product offering.
“The company has a large and positive social impact in the rural communities it serves,” read a statement by Goodwell Investments, “It provides consumers with a wide choice of products at affordable prices via a business that is close to them and that they can trust to deliver quality.”
Related article: Goodwell Investments has launched a new EUR 20 million (around $23 million) fund for investments in the inclusive economy in Sub-Saharan Africa.
Copia enables individuals in rural areas with easy access to goods they would have to travel to a major city to obtain.
Copia was launched in 2013 with 20 agents and has since grown rapidly; the company boasts over 3,000 agents, 40,000 customers, and has executed north of 80,000 orders a month.
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