Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

RENEW re-ups investment in Ethiopian delivery tech startup



ImpactAlpha, June 1 – Addis Adaba-based Roadrunner is a tech platform used by delivery startup Deliver Addis, one of Ethiopia’s leading e-commerce companies. Roadrunner’s tech has helped Deliver expand from restaurant delivery to groceries and other essential goods during COVID.

Small business-focused impact investor RENEW has invested a third slug of capital in Roadrunner. Terms of the deal were not disclosed.

The capital invested comes from a network of angel investors, the Impact Angel Network, and Global Affairs Canada.

COVID created a surge in new demand and opportunity for both Roadrunner and Deliver Addis, which provides delivery services for 100 retail and restaurant businesses in the city. Others in RENEW’s portfolio, like tourism business Travel Ethiopia, have struggled.

RENEW connected Deliver Addis to Travel Ethiopia, which is now supplying its vehicles and staff to support Deliver’s expansion. Looking for synergies across portfolios “is one way GPs can help their portfolio companies right now,” RENEW’s husband and wife team, Matt and Laura Davis, told ImpactAlpha.

RENEW also invests in African women-owned businesses through a “mini- investment” fund (see, RENEW right sizes checks with new East Africa fund for female founders.”)

You might also like...