Spiro Secures USD 7 M Loan To Scale Electric Motorcycles In Africa

Spiro, an Africa-focused electric motorcycle company, has secured a USD 7 M loan from US-based climate fintech financier Nithio to support the expansion of its EV fleet, battery-swapping infrastructure, and working capital as it scales across existing and new markets.

The facility marks Nithio’s first investment in Africa’s electric mobility sector, signalling growing institutional confidence in EVs as a commercially viable climate solution on the continent.

Founded in 2022, Spiro has emerged as one of Africa’s best-capitalised electric mobility players, with the latest debt round bringing its total funding to nearly USD 290 M. This includes a USD 100 M round raised in October 2025, led by the Fund for Export Development in Africa (FEDA).

The fresh capital strengthens Spiro’s push to industrialise electric two-wheelers and supporting infrastructure in markets where motorcycles remain a critical part of urban transport and logistics.