Participated · Series A · Feb 2026

Founded in 2016 by Evelyn Chilomo Kaingu, Lupiya offers mobile-first lending products that allow individuals and small businesses to access credit without traditional collateral requirements. The platform has broadened its services to include Lupiya Pay, a digital payments solution, and is developing embedded finance partnerships to deepen customer engagement. By leveraging technology, Lupiya targets Zambia’s sizable unbanked and underbanked segments, positioning itself as an inclusive alternative to traditional banks. The company intends to use new capital to strengthen its core technology stack, introduce additional financial products, and scale its operations into other Southern and East African markets. Although specific revenue or user figures were not disclosed, management highlights growing demand for digital credit solutions across the region. The firm’s expansion strategy centers on both product diversification and geographic growth, aiming to become a regional leader in digital financial services.

Participated · Series A · Oct 2024

Dastgyr is a demand-led B2B marketplace launched in 2020 that connects retailers with suppliers, manufacturers and wholesalers to enable wholesale ordering and next-day delivery. The platform offers a sellers app for product uploads, pricing and purchase orders while buyers use the marketplace to order inventory. Dastgyr expanded beyond FMCG into electronics, pharmaceuticals, industrial goods, raw materials and construction materials. It uses a cross-docking, asset-light fulfilment model to move goods quickly and offers Shariah-compliant lending services for largely unbanked or underbanked sellers and buyers. The company targets Pakistan’s ~2 million SMBs and the broader SMB market opportunity cited at around $150 billion in value. Following the raise, Dastgyr plans further geographic expansion and to broaden fintech offerings while investing in technology and people.

Led · Equity · Jun 2024

DALI Stores is a discount grocery store chain focused on the Philippines. The company operates physical stores offering discounted grocery goods. DEG, the investment arm of German state-owned development bank KfW, has committed $8.4 million to the chain. The disclosure announcing the commitment did not specify the instrument or the intended use of proceeds. The article did not provide revenue, store-count, founding year, or other operating metrics. No additional future plans or transaction details were included in the disclosure. DALI Stores operates as a discount grocery store chain focused on the Philippines. The company was the subject of an announced investment. Singapore-based growth equity firm Venturi Partners invested $25 million in DALI Stores. The article does not provide details on operating metrics, valuation, or use of proceeds. No other operational or strategic plans were disclosed in the announcement.

Led · Debt Financing · Jan 2024

SUN Energy develops and leases solar photovoltaic (PV) installations to companies and industries, including shopping centers, under long-term lease agreements. The company was established in 2016 and focuses on commercial and industrial rooftop solar power generation. It reports more than 300 MWp of solar projects, with around 89 completed projects; three projects are in Thailand, Vietnam, and Australia, and 25 projects are spread across 25 Indonesian cities. SUN Energy says it has experienced significant business growth over the last three years and plans to use new financing to expand solar energy development and market reach across Indonesia. Recent financing activity forms part of its strategy to provide integrated solar energy services and scale project deployment. Surya Utamana Nuansa (SUN Energy) is an Indonesian company that installs photovoltaic (PV) solar systems. The article identifies the firm as a solar PV installer operating in Indonesia. DEG, the investment arm of German state-owned development bank KfW, has committed a $21-million long-term loan to the company. The financing was disclosed in a company disclosure. The $21 million is structured as a long-term loan to SUN Energy. The article does not disclose additional operating metrics, past funding rounds, or the use of proceeds.

Participated · Series C · Dec 2023

Copia Global is a decade-old Kenyan e-commerce and fintech platform targeting mid- and low-income consumers in rural areas using a network of local agents and logistics. The company operates a network of over 50,000 agents who are small business owners and has served over 2 million consumers, with most orders placed offline via agents, USSD, or phone. Copia has digitized its agent network, increasing agent app usage from 5% to 80% in a year, and plans to further digitize its millions of consumers, including exploring smartphone financing models. The company has experienced roughly 100% annual growth in recent years and expects annual revenue to exceed $60 million by the end of 2023. Facing tighter capital markets, Copia cut at least 700 roles, reduced Kenyan headcount by 25%, and closed its Uganda business as it shifts from expansion to achieving profitability in Kenya. To date it has raised over $120 million, including a $50 million Series C in January, and maintains pan-African expansion plans to enter 14 additional countries after reaching profitability in Kenya. Copia Global operates a B2C e-commerce service built to reach middle- and low-income African consumers using mobile technologies, a network of local agents, and proprietary Copia Logistics. The company recruits and trains small business owners as branded agents who act as local sales points and aggregated delivery locations. That agent network comprises roughly 30,000 agents (77% women) and enables deliveries in 24–48 hours without charging customers a delivery fee. Copia reports about 1.4 million unique customers, roughly doubling year-over-year, and has fulfilled more than 10 million orders to date. The model is designed for profitability in rural and hard-to-reach markets by aggregating orders and streamlining supplier relationships. Copia plans to scale further across East Africa (Kenya, Uganda, and later Rwanda and Tanzania) and is evaluating expansion into additional African markets. Copia is a Nairobi-based e-commerce catalogue and delivery service founded in 2013 by Tracey Turner and Jonathan Lewis. The company uses mobile technology and a network of over 5,000 local agents and shopkeepers to deliver consumer goods and services to underserved rural customers. Copia emphasizes trust via reliable delivery, quality products, low prices and strong customer service as the basis of its model. To date the firm has fulfilled more than three million orders. The company plans to use new funding to expand across Kenya and into other African markets. Recent governance additions include appointments of Isaac Awuondo and Bettry Mwangi to the board. Copia is a consumer-goods catalogue and delivery service that uses technology and a network of over 3,000 local agents to reach underserved rural customers. The firm serves about 40,000 consumers and executes over 80,000 orders a month, with prepaid orders typically delivered in two to three days. Copia says customers save up to $1.50 per order in transport costs and an hour of travel time versus travelling to a major city. The company has invested in logistics infrastructure, including a 4,500 sqm central distribution centre in Nairobi. Management plans to use new capital to expand the company’s geographical footprint within Kenya and eventually into other countries. Crunchbase estimates Copia had raised roughly $4 million prior to this deal.