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Kenyan E-commerce Firm Copia Secures $20M in Funding, Appoints Ex-Metaswitch CEO to Board for Profitability Push 🇰🇪

Kenyan E-commerce Firm Copia Secures $20M in Funding, Appoints Ex-Metaswitch CEO to Board for Profitability Push 🇰🇪

#e-commerce
Kenyan e-commerce and fintech platform Copia Global, fueled by $20 million in new funding, welcomes ex-Metaswitch CEO John Lazar to its board. With a focus on profitability, Copia targets mid- and low-income consumers, leveraging a network of over 50,000 agents. Despite recent workforce reductions, the company eyes digitization and sustainable unit economics for future growth in Kenya and beyond.

Kenyan e-commerce platform Copia Global appoints ex-Metaswitch CEO John Lazar to its board following a $20 million funding round. With a strategic focus on profitability, Copia caters to mid- and low-income African consumers, utilizing a network of 50,000 local agents. The platform experienced rapid growth and plans to digitize its agent network further, tapping into increased smartphone penetration. Despite recent cutbacks and shifts in expansion plans, Copia remains optimistic about achieving profitability in Kenya and eyes Pan-African ambitions post-success.


- Ex-Metaswitch CEO John Lazar joins Copia's board after a $20 million funding round.

- Copia targets mid- and low-income African consumers with a network of 50,000 agents.

- The company shifts focus to digitization, leveraging increased smartphone penetration for future growth.

- Despite recent workforce reductions, Copia remains optimistic about achieving profitability in Kenya and has Pan-African ambitions post-success.


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