Verdant Capital Hybrid Fund backs Mogo Kenya
The Verdant Capital Hybrid Fund has completed a $7 million dual-tranche investment comprising a subordinated loan and senior secured loan to Mogo Kenya, a subsidiary of Eleving Group operating in Europe, Asia, and Africa.
The investment will help Mogo Kenya expand its portfolio of motorbike (fuel and electric-powered two-wheelers, locally known as boda-bodas), tuk-tuk (three-wheeler), car, and car logbook or leaseback financing throughout the country.
Mogo Kenya is one of Kenya’s leading fintech asset financing businesses, specifically for motorbikes, tuk-tuks, and cars, which remain an essential mode of transport and commerce in the country.