Zebu invests in Kenyan e-commerce platform
Zebu Investment Partners has successfully closed its investment in Copia Global via its Africa Food Security Fund.
Copia is a B2C e-commerce platform that leverages mobile technologies, a unique and proprietary logistics model, and a growing network of agents, currently just under 30,000, to transform the way the rapidly growing 750 million middle-to-low income African market accesses goods. The company provides both online and offline direct-to-consumer order services and has fulfilled more than 10 million orders to date. Copia delivers high quality products at lowest market prices to thousands of rural and peri-urban customers daily at zero delivery costs. Copia has validated its model in Kenya, expanded to Uganda and will grow across the region, with plans to expand into other African countries.
The Africa Food Security Fund, the sophomore fund of Zebu Investment Partners, is focused on food production, processing and distribution throughout Africa. The fund is underpinned by the positive impact that investing across the agricultural value chain can have for food security, through improved reliability of dynamic supply chains.
The Africa Food Security Fund aligns with supporting a distinctive consumer e-commerce system, with the ability to achieve last mile distribution to base of the pyramid consumers, facilitating movement of food products and agri-inputs to underserved rural populations, thus enabling food security in sub-Saharan Africa. The fund is pleased to support a model that equally enhances economic self-sufficiency of thousands of agents, engaged as part of Copia’s proprietary model, whilst improving the quality of life of consumers historically side-lined from traditional Western style e-commerce activities.
Tracey Turner, founder and chairman of Copia Global, said: “We are delighted to have Zebu Investment Partners join us as one of our investors in this series C equity round. Zebu’s investment will enable us to grow across East Africa and expand into other African countries. Their wealth of experience in multiple African markets, as well as their networks and relationships across the continent, provide added leverage for our planned expansion. In addition, Zebu’s inclusive investment strategy to improve market access makes them great partners in enabling us to execute our mission to transform previously underserved African customers into empowered global consumers.”
Brian Frimpong, managing partner at Zebu, noted: “Zebu’s investment in Copia presents a partnership to improve access to quality food and financial inclusion for rural communities across Africa, starting with Kenya. Zebu believes this round with other credible global investors will highlight Africa’s e-commerce transformation and ultimately offer a platform for rural smallholder farmers to have alternative access to markets.”
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.