Just a month after Copia Global administrators announced the sale of its assets to settle creditors, Tracey Turner, co-founder of the Kenyan-based e-commerce platform, is already gearing up for a new venture, new reports indicates.
“According to multiple sources familiar with the matter, Ms Turner is in the process of launching a new company that will focus on delivering household items in Nairobi and its surrounding suburbs. The company, which has already been registered in Kenya, is reportedly in advanced talks with investors, with three already lined up to provide funding, according to a venture capitalist privy to the discussions,”the report stated.
Also, Ms Turner’s co-founder and former Copia CEO, Tim Steel, is also expected to join the new team, although his exact role remains unclear. Mr Steel headed Copia from March 2017 until its entry into administration in May 2024.
Copia’s downfall began in May when it admitted to financial struggles and laid off over 1,000 employees. Despite attempts to raise new funding, the company ultimately decided to wind down operations after eleven years.
The new company’s anticipates a potential launch between September and October.