Copia, a Kenyan e-commerce firm that specializes in supplying products and services to currently underserved consumers in rural Kenya has secured a US$2 million in funding from Goodwell Investments.
Founded by Tracey Turner and Jonathan Lewis in 2013, Copia combines the use of technology, local agents, efficient delivery strategies to supply products and services to “Base of the Pyramid” (BoP) consumers, enabling households to access goods that would otherwise be difficult to obtain without travelling to a major city.
“The company has a large and positive social impact in the rural communities it serves. It provides consumers with a wide choice of products at affordable prices via a business that is close to them and that they can trust to deliver quality. Saving US$1.5 in transport costs and an hour travel time per order is a huge benefit for people living on only a few dollars per day.” Statement by Goodwell Investments.
The company which was launched in 2013 with 20 agents, Copia has shown dramatic growth over the past few years and now works with over 3,000 agents, serving over 40,000 customers, and processing over 80,000 orders a month.
In early 2018, the company signed a long-term lease with Africa Logistics Properties (ALP) for 4,500 sqm of its flagship logistics and distribution complex in Tatu Industrial Park, enabling it to boost its delivery capacity and ability to provide a unique shopping service to its agent network across the regions.
Goodwell Investments is one of the most active foreign investment firms in Africa having invested Paga (Nigeria), Nomanini (South Africa), Musoni Systems (pan-African), MFS Africa (South Africa), Lydia (Nigeria) and WhereIsMyTransport (South Africa).
Image Credits: Ventureburn / Goodwell Investments