Kenya’s Roam turns to retail investors to fund its next growth phase

Roam, the Nairobi startup that designs and manufactures electric motorcycles and charging systems for commercial riders, is opening part of its pre-Series B round to retail investors on Crowdcube, a UK-based equity crowdfunding platform. The company says the new capital will be used to scale production and expand its charging network in Kenya.

“This crowdfunding campaign is about inclusion,” Filip Lövström, Roam CEO, said. “We want anyone within our community, and supporters of our mission, to now be able to join us on our continued journey as a shareholder.”

On Crowdcube, investors can buy small equity stakes in Roam starting from as little as £10 (about KES 1,700), giving everyday supporters a chance to own a piece of the e-mobility company. The campaign is part of Roam’s Pre-Series B raise, in which the company is targeting between $15 million and $20 million, with about 5–10% of that now open to retail participation.

Roam hopes to ride on its growing brand recognition to deepen loyalty within its rider community, which has been key to its adoption in Kenya’s e-mobility market. Crowdfunding remains rare among Kenyan startups—Sun King has raised $2 million through an equity crowdfunding round on the platform Trine—so all eyes will be on how local and international backers respond to Roam’s offer.

Increased investor appetite

The move comes amid growing investor interest in e-mobility and renewable energy startups, driven by soaring fuel prices and the rising demand for affordable transport options in East African cities.

Motorcycles dominate short-distance urban transport across Africa. According to Lövström, there are roughly 25 million riders on the continent, many of whom spend as much as 40% of their income on fuel. Roam sees its electric motorcycles as a practical solution to ease that burden, offering riders a way to lower daily operating costs while reducing emissions.

“We’ve proven that electric mobility is possible, affordable, and scalable in Africa,” said Lövström.

Roam’s flagship model, Roam Air, is assembled at its 10,000-square-metre Nairobi plant, which has the capacity to produce about 15 electric bikes per day. The company reported over 500% revenue growth in May.

Roam has not disclosed its local market share, but rivals like Spiro control about 21% of Kenya’s motorcycle market, including petrol models.

The company has raised over $30 million across its earlier rounds, including a $5 million seed round led by At One Ventures and Factor[e], and a $24 million Series A, comprising $14 million in equity and $10 million in debt from the US International Development Finance Corporation.

Trending Stories