This news comes on the heels of a successful Series C extension round, further propelling Copia’s mission to empower mass market consumers across rural Africa.
Enza Capital, the Pan-African VC firm co-founded by Lazar, participated in the recent funding round, reflecting its confidence in Copia’s potential.
The investment in Copia aligns perfectly with the rapidly growing African consumer market.
The International Monetary Fund (IMF) projects that consumer spending in Africa will surpass $2 trillion within the next three years, primarily driven by the expanding middle class.
Copia, however, focuses on a segment often overlooked by traditional e-commerce platforms: mid and low-income consumers in rural areas.
These individuals face unique challenges in accessing goods and services, with limited choices, unreliable options, and cost concerns often hindering their purchases.
Despite these challenges, Copia sees immense potential in this underserved market.
With approximately 750 million potential customers across Africa, Copia’s hyperlocal strategy leverages a network of local agents to bridge the gap between rural consumers and essential products and services.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Glint, a prominent Egyptian venture capital firm, has secured an initial $3 million for its second fund, targeting early-stage startups.
Leading global venture capital firm Partech has announced the final closing of its Partech Africa II fund, securing €280 million (over $300 million) to fuel the growth of African startups across diverse sectors.
Tunisian fintech startup Konnect has secured funding from Renew Capital, an Africa-focused impact investment firm, to support its expansion efforts.
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