The Kigali-based electric transport energy company Ampersand has raised US$19.5 million in equity and debt funding to help it continue to expand operations. Its US$19.5 million funding round was led by Ecosystem Integrity Fund (EIF), and joined by Acumen and Hard Edged Hope Fund. It also includes a US$7.5 million debt facility from Cygnum Capital’s Africa Go Green Fund. With this funding, we are on track to deliver thousands more electric motorcycles in the coming months,” said Josh Whale, CEO and founder of Ampersand. It also reflects our investors’ commitment to support the green transition in Africa.

Source: The North Africa Journal January 04, 2024 12:01 UTC