Rwandan e-bike startup Ampersand banks $19.5m funding
- Ampersand has raised $19.5 million in equity and debt funding to expand its operations.
- The company assembles and finances electric motorcycles that outperform petrol motorcycle taxis in East Africa.
- Ampersand's fleet has grown to over 1,000 vehicles and is expected to exceed 10,000 by late 2024.
The funding received by Ampersand will enable the company to further expand its operations and meet the growing demand for electric mobility in Africa. With its superior technology and strong unit economics, Ampersand is well-positioned to lead the development of electric transportation in East Africa. The support from investors reflects their confidence in Ampersand's business model and commitment to the green transition.
