Nairobi, Feb. 24 -- Electric motorcycle company Spiro has secured fresh Sh6.45 billion ($50 million) debt funding from African Export-Import Bank (Afreximbank) and two other investors to support the expansion of its battery-swapping network across existing and new markets.

Spiro's fresh debt financing was tapped from Afreximbank and two new investors, Nithio and Africa Go Green Fund (AGG), which is managed by Cygnum Capital. The funding comes just four months after Spiro announced a landmark Sh12.9 billion ($100 million) investment in October 2025.

The company said that the new capital will support its battery-swapping network across existing and new markets and improve its technology platform.

"This new funding reinforces our vision o...