The International Finance Corporation (IFC) has proposed a $5 million (about Ksh 645 million) equity investment in Arc Ride.
According to IFC disclosures, the investment will support Arc Ride’s ongoing Series A financing round aimed at scaling its battery-swapping network across Kenya, expanding into new African markets, and strengthening its technology capabilities through research and development and compliance upgrades.
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The size of the stake IFC intends to acquire has not been disclosed.
Arc Ride operates a Battery-as-a-Service (BaaS) model for electric two-wheelers. Under the model, riders drop off depleted batteries at designated swap cabinets and collect fully charged ones within minutes. The significantly lowers the initial purchase cost of electric motorcycles and reduces downtime.
The proposed IFC investment is expected to help Arc Ride increase network density and service capacity in Kenya while laying the groundwork for expansion into other African markets.
Back in September 2025, the company secured a $10 million five-year senior secured debt facility from Mirova International. This was to be used to finance the rollout of more than 600 battery-swapping cabinets and 25,000 batteries. Earlier, British International Investment (BII) injected $5 million in equity into the company.
IFC noted that beyond capital, it intends to provide board-level support and help Arc Ride strengthen its environmental and social governance (ESG) standards in line with international compliance frameworks.
“IFC patient capital and board-level support will be critical to promote the company’s long-term growth and fundraising prospects,” the institution stated.
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Also Read: What You Need to Know About Kenya’s National Electric Mobility Policy (e-Mobility Policy)
