A Kenyan High Court has ordered Copia Kenya, the e-commerce company that raised over US$120 million to serve consumers outside the country’s major cities, into liquidation after more than two years of administration failed to revive the business.
Launched in 2013, Copia combines technology and a network of local agents to offer a broad product offering and efficient, reliable delivery to “base of the pyramid” consumers. Its service enables rural households to access goods that would otherwise be difficult to obtain without travelling to a major city.
The company raised more than US$120 million in capital, with its most recent raise being a US$50 million Series C, and expanded into new markets, but in May 2024 Read the original article here