Logistics Company Copia Invests USD 20 Mn In Warehouses, Unveils E-Commerce Platform
Logistics company Copia Global has entered Kenya with a USD 20 Mn investment in warehouses and network establishment.
The company also launched an e-commerce platform which allows people living in urban centres to get products from upcountry and those in the rural areas to buy from towns. This means buyers can pick products from any shop in the world and get the products delivered to them within two to three days.
The platform is trying to make, for people living in urban areas to buy and deliver goods to their friends and family upcountry, convenient and easier.
The funds were reportedly raised through an equity financing model that attracted multiple investors. So far, the company has signed partnership agreements with manufacturers within and outside Kenya who have uploaded products on the platform. Copia online market space has attracted retail stores that run virtual ‘malls’ where they deliver products right to the customers’ homes or offices.
With the equity financing , the firm which was founded by US based entrepreneurs Ms Tracey Turner and Jonathan Lewis, will provide customers in urban areas the ability to purchase a range of products from household goods, personal care, electronics, farming tools and construction materials. Copia liasses with the recipient of the goods directly and delivers them through the nearest agent.
Copia claims to have more than 3,700 agents across Central Kenya and parts of Rift Valley and has fulfilled more than two million orders and served over 300,000 customers while providing an additional source of income to its agents.
The advent of Copia’s online platform will eventually see Copia Kenya become a full e-commerce service.
“E-commerce has the potential to transform Kenya’s economy while helping to uplift the living standards of millions of people. However, this can only happen if they are rolled-out with logistics and distribution solutions tailor-made to work for Kenya.” said Mr. Tim Steel.
Featured Image Courtesy: Copia Global
