Mawingu, the fixed internet service provider, has secured Series B funding of KES 1.12 Billion to expand in 25 counties.
The fixed internet provider, plans to expand its reach with a $6 million investment from InfraCo Africa, with the support of E3 Capital and Dutch Entrepreneurial Development Bank FMO, which contributed $1.5 million each.
Mawingu aims to extend its coverage to 25 more counties over the next five years, connecting a quarter of a million people.
Currently, the fixed internet service provider serves 7,500 customers across 15 counties and has a 1.5% fixed data market share, putting it in 6th place in the Kenyan market, which Safaricom dominates.
The company focuses on the rural market with hopes of increasing access to affordable internet connectivity for underserved households and businesses.
Brad Smith, the Vice Chairman and President of Microsoft, has previously acknowledged Mawingu’s contribution to the goal of providing internet access to 100 million Africans.
Mawingu’s aim is not to drop an Internet cable at someone’s house. We seek to help our customers access new opportunities for work, education, entertainment, and social connections through the power of the internet. This very purpose: Open Opportunities that drive our company’s mission. The company is positioning itself as a quality Internet provider at affordable rates, with the capacity and desire to connect frontier regions without access to meaningful internet.
Mawingu’s Chief Executive Officer – Farouk Ramji
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