Copia, an ecommerce business that specializes in supplying products and services to currently underserved consumers in rural Kenya, received an investment from Goodwell Investments.
The amount of the deal was not disclosed.
The company intends to use the funds to expand in Kenya and other emerging rural markets across Africa and beyond.
Led by Tim Steel, CEO, Copia supplies products and services to “Base of the Pyramid” (BoP) consumers. Through a combination of technology, local agents, efficient delivery strategies, a broad and affordable product offering, and services, the company enables households to access goods that would otherwise be difficult to obtain without travelling to a major city. Pre-paid orders take two to three days to be fulfilled on average.
Launched in 2013 with 20 agents, Copia now works with over 3,000 agents, counts some 40,000 customers, and executes over 80,000 orders a month.