African electric logistics company, Bisedge, has secured €10 million ($11.2 million) in debt financing from Finnfund, Finland’s development finance institution, to expand its electric industrial equipment operations across Africa.
The investment marks Finnfund’s first electric vehicle financing deal on the continent and establishes a strategic partnership with Swedish impact investment platform Trine.
Tech in Africa reports that the funding would support Bisedge’s expansion of electric forklift fleets in Nigeria, Kenya and Tanzania, helping businesses transition from diesel-powered equipment to cleaner alternatives.
Founded in Lagos in 2020 and now headquartered in Mauritius, Bisedge provides electric material-handling equipment and logistics services to businesses operating in manufacturing, warehousing and distribution.
The company operates a Zero Capital Expenditure (Zero CapEx) model, allowing customers to access forklifts, warehouse tractors and other industrial equipment through recurring payments instead of outright purchase.
Under the arrangement, Bisedge manages equipment maintenance, fleet operations and performance, reducing upfront costs for businesses adopting electric technology.
Bisedge serves as the exclusive African partner of German equipment manufacturer Linde Material Handling across nine markets, with about 95 percent of its equipment fleet being electric while its operational network supports more than 1,350 employees.
The latest financing follows a $20 million equity investment secured from pan-African private equity firm Metier in May 2026.
Trine, which has supported Bisedge since 2021, has previously facilitated approximately €16.5 million in financing to help the company scale its operations.
The new investment is also supported by the European Union-backed EDFI Renewable Energy Transition programme, which provides guarantees to encourage investment in clean energy projects in emerging markets.
According to environmental assessments cited by Finnfund, replacing diesel forklifts with electric alternatives in Nigeria could reduce carbon emissions by approximately 37 tonnes per forklift annually.
The investment highlights growing institutional interest in Africa’s clean transportation and logistics sector, as Bisedge moves to address barriers such as expensive equipment, limited financing and inadequate infrastructure through its subscription-based service model.
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