Techbytes: Electric motorcycle company Spiro secures $7m debt financing from Nithio (Tech Africa)

Spiro, an electric motorcycle company operating in Africa, has obtained a US$7 million loan from US-based climate fintech financier Nithio to fund expansion of its EV fleet, battery-swapping infrastructure, and working capital.

The facility represents Nithio’s first investment in Africa’s electric mobility sector.

Founded in 2022, Spiro has raised nearly $290 million in total funding, Tech Africa reports.

The company raised $100 million in October 2025 in a round led by the Fund for Export Development in Africa.

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The debt financing will support Spiro’s expansion across existing and new markets where motorcycles serve as critical components of urban transport and logistics networks.

Spiro operates battery-swapping infrastructure and provides electric two-wheelers in African markets.

The transaction signals institutional capital deployment into electric vehicle solutions on the continent as the sector develops commercial viability.

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