ImpactAlpha, January 28 – Kenyan e-commerce venture Copia has raised $2 million from Dutch impact investor Goodwell to be an “Amazon plus Fedex” for rural and low-income customers.
Copia launched in 2013 with a mission of making it easier for emerging market consumers to access goods as conveniently as wealthier consumers in advanced economies. The firm has built out a network of rural agents that take orders from customers. Copia then delivers the items within days to the agents for customers to pick up.
Copia’s network of 3,000 agents serves 150,000 customers in a delivery region that encompasses 22% of rural Kenyans, according to the company’s website. The company is planning to launch a service for urban customers who want to order products for their rural relatives and friends.
Goodwell made the investment in Copia through its uMunthu fund, which invests in African startups targeting financial inclusion, fintech and inclusive growth.
Goodwell raises €20 million feeder fund for African impact investing