Electric motorcycle company Spiro has secured a $7 million (Sh903 million) debt financing to accelerate the expansion of its electric bike fleet and battery-swapping network across Kenya and other African markets.
The funding comes from climate-focused financier Nithio through its Facility for Adaptation, Inclusion and Resilience fund, a private investment vehicle that backs firms providing household energy assets such as solar home systems and productive-use appliances. The capital will also bolster Spiro’s working capital base.
