05 November 2021 – OCA served as financial advisor for Opibus on their $7.5M capital raise led by At One Ventures, and further supported by Factor[e] Ventures and Ambo Ventures. Opibus is a Swedish-Kenyan electric mobility company founded in 2017; its current products include electric motorcycles, electric commercial vehicles, and charging and energy solutions. Its vision is to develop reliable and cost-efficient products designed for the African mass market.

The capital raised will be used for scaling up and starting mass manufacturing in 2022, and tap into Africa’s largely untapped transportation market, which is estimated to grow to $10B by 2030.

The Open Capital team served as the exclusive financial advisor to Opibus, providing support including structuring, investor prioritization and outreach, negotiations, and finalization of deal documentation. This is part of Open Capital’s growing body of work in electric mobility in Africa and part of the $1B+ capital raised for clients since 2010.

For more information on Open Capital, please contact our Head of Capital Markets, Tibor Almassy, at talmassy@opencapital.com.