New Investments

Copia Global Secures $20 Million in Series C Extension to Tap into Booming African Consumer Market

Kenyan e-commerce and fintech platform Copia Global has made a strategic move, appointing seasoned tech leader John Lazar to its board of directors alongside securing $20 million in fresh funding.

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.

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