Copia Receives $2m Equity Investment from Goodwell

Copia, which is a Kenya-based ecommerce platform received $2 million fund in Investment from Goodwell Investments. Copia integrates technology with a wide network of local agents—numbering over 3,000 to deliver goods and services to about 40,000 people in rural Kenya.

Copia was founded in Silicon Valley, 2012 (according to their website) by Tracey Turner and Jonathan Lewis, both of American descent and has previously raised over $4 million in funding from various investors like Savannah Fund, DOB Equity, Data Collective DCVC and the Opes Impact Fund.

In conversation with Ventureburn, the chief growth officer at Copia, Nikki Germany said that the investment will be channeled towards increasing the geographical footprints of its services and will help in expanding to other countries as well.

See Also:Kenyan Based Logistics Platform, Bwala Africa Closes Ksh24 Million Debt Financing, Launches Bwalapay

In further conversations Ventureburn had with Goodwell Investments, their marketing director — Nico Blaauw opted to not disclose the exact amount of equity that the deal entailed. However, he revealed that the deal had been finalized since the 17th of January. According to Goodwell’s statement, Copia’s vision very much aligns with their strategy of serving community impact and providing better and more affordable goods and services.

Copia executes up to 80,000 orders a month saving its customers time and over 1.50 per order when considering transport costs. To corroborate this, Goodwell in a statement read “Also, the goods people buy via Copia are the exact same top-10 items they spend most of their income on, so the savings matter,” It delivers fast as prepaid orders take only an average of 2 to 3 days to reach the intended destination.

Copia is headquartered in Nairobi.

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