Poa! Internet is a low-cost internet service provider that targets users in low-income areas. The firm has been running its operations in the country since 2016 and is very popular in places such as Kawangware, Nairobi.
This week, the company closed a $28 million round of funding. The drive was led by Africa50.
The funds, which sum up to about KES 3.1 billion, will be used to grow the company as it seeks to expand its services across the country.
As usual with such a substantial amount of money, Poa! is also planning to offer its services in other African markets.
Another member of the drive included Novastar Ventures, which is made its third investment into the company and several other existing shareholders.
Poa! has so far garnered more than 12K home internet users. It also supports thousands of other Wi-Fi customers, who pay a small number of fees to access unlimited internet over a certain period by just ensuring they are next to one of Poa!’s many hotspots.
Quotes
Poa is all about connecting the unconnected of Africa to create opportunities for growth, learning, and economic stimulus through digitization. We have a young, energetic, and committed team, that are working tirelessly to make our vision a reality. Now with Africa50’s investment, we can ramp up our roll-out plans and provide value to even more communities across Kenya – Andy Halsall, Poa Internet’s CEO
Poa has been instrumental in bridging the needs of last-mile connectivity, and their ultra-low-cost solutions can be used to address the significant connectivity gaps in Kenya and across the continent as a whole. This is particularly important at a time when societies and economic activities are increasingly becoming digitized as a result of the COVID-19 pandemic – Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50
