Copia is a Kenyan-based mobile commerce platform and goods distributor that just raised $50 million to fund expansion into Africa.
Copia is one of the African Startups that looks to use Information technology in solving Africa’s problem. Problems like informal and highly fragmented retail markets.
The mobile commerce platform was founded in 2013 and has since been serving mid-level and low-income customers. These a majorly customers who reside in the rural parts of the East African Nation.
Copia uses mobile technologies, a network of over 25,000 agents (small shopkeepers) to take orders and make goods delivery. It has its own logistics facilities which it uses to reach shoppers that do not have access to formal retailers like supermarket chains.
The Series C funding
The recent Series C funding round was led by Goodwell Investments, a Netherlands-based company. And other investors include German development financier DEG; Lightrock and the U.S International Development Finance Corporation.
With this funding, Copia intends to expand further into African countries but did not specify exactly which nation it will expand to.
Although it said there are millions of consumers across the African Continent who are underserved by formal retailers.
The Kenyan-based mobile commerce platform and goods distributor also did not reveal the valuation of the company.
According to the firm, the company is capable of delivering services to the most remote locations in Africa. Places with poor road infrastructure or those that do not even have an address for easy and proper location.
Meanwhile, this service will come at no additional cost so as not to overburden the customer. Also, urban residents can use this service to shop on behalf of friends and family upcountry.