Following the fall of Copia, its co-founder and key executives secretively launched a new business venture
Former Copia Global Executives Launch New E-commerce Platform Stahili in Kenya
After the collapse of Copia Global in May 2024, three of its top executives – Tracey Turner, Tim Steel, and Michael King – have returned to the tech industry with the launch of Stahili, a new e-commerce platform.
Registered in June 2024, Stahili is currently operational in Kenya, offering cashback, discounts, and mobile data rewards to consumers in exchange for engagement such as completing surveys and providing product feedback. The platform's business model draws inspiration from the early success of platforms like Groupon (US) and Coupang (South Korea), focusing on connecting merchants with middle- and lower-income African consumers by providing value-driven purchasing opportunities.
Tracey Turner, a co-founder and former executive chairperson of Copia Global, is also involved in the launch of Stahili. The platform is wholly owned by Copia Holding Company, a US-registered entity linked to Turner and previously associated with Copia Global. While Copia’s Kenya and Uganda operations were shut down by September 2024, the holding company remained active and serves as the parent company of Stahili.
The new e-commerce platform's website is already live, offering deals targeting Kenyan consumers. If Stahili is Copia Global's spiritual successor, it faces the same challenge that collapsed its predecessor: delivering value to rural consumers at scale, without burning through capital faster than revenues can catch up.
It is still unclear whether Stahili will seek new funding and from which investors. Turner, however, has started a new venture, Olverra, a US-registered entity, in January 2025, which helps African artisans sell handmade products abroad.
Background
By early 2024, operational costs of Copia Global had spiraled, margins were under pressure, and the company failed to secure a sustainable lifeline after its final $20 million funding round in December 2023. Copia Global, a tech-for-good startup based in Africa, raised over $123 million (KES15.8 billion) across seven rounds, with backing from DOB Equity, Goodwell Investments, Enza Capital, Lightrock, and the US International Development Finance Corporation (DFC). Despite its deep investor pool, Copia Global never turned a profit in its 12-year existence.
In May 2024, Copia Global filed for voluntary administration and was wound down by September, with administrators moving to liquidate its remaining assets to pay creditors. Vijay Otieno, a Kenyan data engineer, is the CEO of Olverra, according to Turner's LinkedIn profile.
In summary, Stahili is a new e-commerce platform launched by former top executives of Copia Global, aiming to empower middle and lower-income Africans with deals. While the platform is currently operational in Kenya, it remains to be seen whether Stahili will seek new funding and expand beyond its current market.
- Stahili, the new e-commerce platform launched by former Copia Global executives, is aiming to replicate the success of early platforms like Groupon and Coupang by connecting merchants with middle- and lower-income African consumers, offering cashback, discounts, and mobile data rewards in exchange for consumer engagement.
- The platform, which is wholly owned by Copia Holding Company – a US-registered entity linked to one of the co-founders, Tracey Turner – faces the same challenge as its predecessor, Copia Global, in delivering value to rural consumers at scale without overextending its capital.
- As Stahili seeks to establish itself in the market, it remains uncertain whether the platform will look for new investments from technology-focused funds to fuel its growth and expansion, just as Copia Global did with its deep investor pool that included DOB Equity, Goodwell Investments, Enza Capital, Lightrock, and the US International Development Finance Corporation (DFC).
