Why We Invested in eWAKA: Eco-friendly Urban Delivery Solutions for East African Cities

Founded in 2021 by Celeste Vogel, eWAKA is an East African mobility startup transforming the urban delivery sector with its fleet of sustainable and affordable electric two-wheelers. Operating in Kenya and Rwanda, the company provides rentals and sales of electric cargo bikes and motorcycles for commercial and personal use, offering urban riders a greener alternative to the petrol motorbikes currently dominating commercial deliveries.

Their mobility solutions are cost-effective, with batteries that can be conveniently charged at home or swapped at eWAKA’s exchange stations for just $1 per exchange. They come equipped with batteries conveniently charged at home or swapped at eWAKA’s dedicated exchange stations for an affordable $1 per exchange.

eWAKA offers two vehicle models: the “Jasiri,” an electric motorcycle, and the “Shujaa,” an electric bicycle. The company goes beyond providing vehicles; it fosters an entire ecosystem to support them. This includes a software platform that connects riders with delivery jobs and an eWAKA app that allows bike users to browse, book, and pay for vehicles and accessories. Businesses opting to franchise the vehicles benefit from a dedicated fleet management system.

“eWAKA’s distinctive value add offering is the completeness of the ecosystem we offer in the domain of last-mile transportation,” says co-founder and CEO Celeste Vogel.

For businesses heavily reliant on transporting goods, such as delivery companies, healthcare providers, and hotels, eWAKA tackles last-mile delivery challenges by providing long-term subscription plans that include bike maintenance, rider training, replacement parts, safety checks, and insurance. The software platform empowers fleet owners and eWAKA to gain valuable insights into customer usage patterns and preferences, optimizing operational efficiency and strategic decision-making.

eWAKA’s customers include delivery companies, healthcare providers, hotels, and individuals seeking an affordable and clean commuting option.eWAKA serves delivery companies, healthcare providers, hotels, and individuals who seek affordable and environmentally friendly transport options.

Impact

In a delivery sector traditionally dominated by petrol-powered motorbikes, eWAKA’s e-mobility solutions offer the potential to significantly impact riders, businesses, and the urban environments in which they operate. They contribute to:

• Reduced pollution and lower carbon emissions: eWAKA’s electric bicycles produce no tailpipe emissions, contributing to cleaner air and healthier urban areas.
• More affordable transportation options: Compared to traditional petrol-powered motorbikes, eWAKA’s e-bicycle rentals and battery-swapping services offer a cost-effective alternative for businesses and individuals.
• Job creation: Through eWAKA’s electric bicycles, young people can access employment opportunities as delivery riders, fostering economic inclusion.
• Improved operational efficiency for businesses: eWAKA’s services, including rider training and fleet management systems, help businesses optimize their delivery operations and reduce costs.

Smart Asset Financing™: Capital to scale e-mobility across Africa

Untapped has partnered with eWAKA to finance the addition of its ‘Shujaa’ electric cargo bicycles to its fleet. This financing will support the company’s expansion within Kenya’s urban centers, that have a thriving delivery sector, but air pollution poses a significant challenge.

How does Smart Asset Financing work?

• Data-driven due diligence: Untapped finances smart assets like e-bicycles equipped with IoT devices that generate data on location and usage. Payment integration enables Untapped to track transactions from these assets.
• On-demand capital for scale: Over time, this data-driven approach, known as “rolling data-driven due diligence,” allows Untapped to analyze the health of its portfolio companies in real-time and, as a result, offer faster access to on-demand capital to scale their operations.
• Measuring impact: Untapped measures impact as revenue generated by the assets’ end users such as delivery gig workers. Untapped integrates its data and payment systems with partners like eWAKA to collect and aggregate revenue data. Click here to learn more about Untapped’s impact.

“Untapped Global’s Smart Asset Financing aligns perfectly with our mission to drive technological advancement in Africa,” says Celeste Vogel, Co-founder and CEO of eWAKA Mobility Limited. “This partnership will accelerate the deployment of our electric cargo and motor e-bikes, revolutionizing last-mile delivery and creating jobs. Together, we’re building a foundation for a more connected, inclusive, and prosperous Africa — one with robust technological infrastructure and access to new markets,” she adds.

About Untapped Global

Untapped Global creates shared prosperity by unlocking economic opportunity where it’s needed most.

We play a catalytic role in financing tech-enabled companies in emerging markets. Our financing approach delivers competitive returns, and measurable impact for global investors.

For more information, reach out to our team at info@untapped-global.com