Spiro, African Electric Mobility Startup, Secures $7 Million Financing from Nithio
Spiro, the African startup specializing in electric mobility, announces a $7 million financing in the form of a loan from Nithio, a US-based fintech financier specializing in climate investments. This financing will accelerate the deployment of electric motorcycles and battery infrastructure, including rapid swap stations.
Background
Founded in 2019, Spiro's total funding now stands at nearly $290 million, following a $100 million raise in October 2025 led by the FEDA (a branch of Afreximbank). The company already operates in several African markets where motorcycles are a cornerstone of urban and logistics transportation, and aims to expand its "battery-as-a-service" model to meet the growing demand for affordable sustainable solutions.
Key Points
- $7 million financing from Nithio to accelerate electric mobility deployment
- Total funding stands at nearly $290 million
- Spiro operates in several African markets with plans for expansion
- "Battery-as-a-service" model to meet growing demand for sustainable solutions
About Spiro
Spiro is an African startup revolutionizing electric mobility in the continent. With a focus on sustainable and affordable solutions, the company is poised to make a significant impact on the transportation sector. The recent financing from Nithio is a testament to the company's growth potential and commitment to climate-friendly investments.
