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Ebene-based Bisedge Logistics & Infrastructure has secured a $11.2 million long-term investment loan from Finnfund, a Finnish development financier and impact investor.
The loan follows a recent $20 million equity investment in Bisedge from Metier Private Equity. Bisedge says the two deals give it more momentum as it enters its next phase of growth in Nigeria and East Africa.
Christian Wessels, Co-Founder and CEO of Bisedge, said, “Our business is built on long-term partnerships with our customers, and Finnfund’s long-term capital is a natural fit for that model. This facility allows us to accelerate the electrification of intralogistics in Nigeria and East Africa, helping our clients lower their costs and emissions while keeping their operations running every day.”
Co-founded by Christian Wessels and Jasper Graf von Hardenberg, Bisedge is a green logistics company. It supplies electric material handling equipment, such as forklifts, reach trucks, and tractors, through a “Zero CapEx” model.
Customers do not pay upfront for the equipment, and Bisedge manages it for them to keep it running. It offers this as Equipment as a Service across Sub-Saharan Africa and the GCC, with more than 1,350 colleagues.
The Mauritius company is the exclusive partner of Linde Material Handling in Nigeria, Tanzania, Kenya and South Africa.
Bisedge plans to use the loan to expand its electric material handling fleet in Africa, focusing on Nigeria and East Africa. The long-term loan aligns with Bisedge’s long customer contracts and the equipment’s lifespan, allowing the company to grow its fleet, serve more markets, and provide cleaner material handling.
Customers benefit from lower overall costs, reduced emissions by moving away from diesel and gas, and improved efficiency.
Justin Nthala, Senior Investment Manager at Finnfund, said,“Bisedge shows how a service-based model can make clean technology accessible to African businesses. By removing the upfront cost of electric equipment, the company helps its clients cut emissions and improve productivity while creating skilled local jobs. We are pleased to support Bisedge’s expansion in Nigeria and East Africa.”
Finnfund is a Finnish development financier that invests in businesses to tackle global challenges. Every year, it invests between $225 – $280 million in 20–30 companies in developing countries, focusing on areas like digital infrastructure, clean energy, forestry, and agriculture.
They also support small and medium-sized enterprises through financial institutions. Overall, Finnfund has around $1.35 billion in investments and has about 100 employees in Helsinki and Nairobi.
Finnfund focuses on digital infrastructure, clean energy, forestry, agriculture and funding for small and medium-sized businesses. It has about 100 employees, based in Helsinki and Nairobi.
