Kenya’s Copia Raises Ksh 2.6B Funding Amid Increasing Questions Over the Viability of Large E-Commerce Operations Across Africa

Copia Kenya has announced a $26 million financing in a Series B round led by LGT Lightstone, with participation from Perivoli Innovations, Endeavor Catalyst, ELEA and Goodwell Investments. The investment will be used to expand across Kenya and other African markets, the company said on Wednesday.

Unlike other big players in the industry whose focus is on online purchases, Copia customers (mainly those at “the base of the pyramid”) walk into stores of more than 5,000 local partnered agents who place orders on their behalf, take payments and serve as delivery points. Copia users can also use USSD codes to made orders.

To date, the company has fulfilled more than three million orders citing relentless focus on building trust — through reliable delivery, quality products, low prices and uncompromising customer service as the enablers for its success.

While the firm has a website, it is mainly targeted at people who live in urban centers, allowing them make purchases and have items delivered to relatives who live outside big cities and in lower income communities where Copia has agent shops.