Spiro Secures Additional $18 Million in Debt Financing

Electric mobility company Spiro on Monday announced that it has secured an additional $18 million in debt financing from climate-focused fund Africa Go Green Fund. With the latest funding, Africa Go Green Fund’s total financial commitment to Spiro has increased to $36 million.

The latest financing builds on a previous debt facility finalised in December 2025. At the time, Africa Go Green Fund had committed an initial $18 million to Spiro, while Nithio contributed $7 million. Africa Go Green Fund served as the transaction structuring lead.

According to Spiro, the newly raised capital will be used to expand its electric two-wheeler fleet and scale its battery-swapping station network across East Africa. The company will specifically focus on strengthening its operations in Uganda and Rwanda.

The new capital will also support Spiro broader charging and battery-swapping ecosystem. The company recently introduced higher-capacity mega battery-swapping stations in Kenya and Rwanda, designed to serve the requirements of commercial riders.

Anant Badjatya, Group CEO of Spiro, said the additional financing will help the company accelerate its execution in two important East African markets.

Gagan Gupta, Founder of Spiro, said that Africa Go Green Fund’s decision to double its commitment reflects strong confidence in the company progress.