Copia Global, a Kenyan-based e-commerce company with a model that targets low income and unbanked users, just raised $26 million (#9,425,000,000) in a Series B round
The information which was disclosed by Quartz revealed that the funding round was led by LGT Lightstone, and support from Perivoli Innovations, Endeavor Catalyst, ELEA, and Goodwell Investments.
Copia Global, a consumer catalog order and delivery system allows customers to make purchases on its website through agents across the country. The company also deals with online and offline experiences. Also, Copia allows the use of the feature code– also known as the USSD technology– for those who cannot gain access through the internet.
The money raised came from a $2 million (#725,000,000) round from Goodwell investments early this year, and according to the company, will be used to strengthen their operations in Kenya, and across the Eastern part of Africa.
Copia since 2015, has raised a total amount of $22 million (#7,975,000,000) and $48 million (#17,400,000,000) in the series round B. For Copia, this funding is also coming at a time when start-ups in e-commerce are facing tough times in the industry.