# Nithio Launches $150 Million Senior Secured Debt Fund for African E-Mobility

> Nithio launched a $150 million senior secured debt fund for African e-mobility, lending $2 million to $15 million per borrower and targeting a $100 million first close in 2027.

- Published: 2026-10-17T22:26:35+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-17/nithio-launches-fuel-debt-fund
- Source: [Startup Researcher](https://www.startupresearcher.com/news/nithio-launches-usd150-million-senior-secured-debt-fund-for-african-e-mobility)

## Key takeaways

- Nithio launched the $150 million Fund for Utility and E-mobility Lending, or FUEL, for commercial electric mobility and supporting infrastructure across Sub-Saharan Africa.
- FUEL will lend $2 million to $15 million per borrower, backed by hard assets and cash flows, and Nithio targets a $100 million first close in 2027.
- Nithio has deployed approximately $55 million to 18 borrowers through FAIR, its open-ended blended finance vehicle for household energy access.

[Nithio Holdings](https://akta.pro/company-profiles/0000b8q/nithio-holdings) launched a $150 million senior secured debt fund for commercial electric mobility and supporting infrastructure across Sub-Saharan Africa, the company said. [Startup Researcher](https://www.startupresearcher.com/news/nithio-launches-usd150-million-senior-secured-debt-fund-for-african-e-mobility) reported the launch. The vehicle, the Fund for Utility and E-mobility Lending (FUEL), will lend $2 million to $15 million per borrower, backed by hard assets and cash flows.

## How Nithio's FUEL Fund Will Lend

Nithio has deployed approximately $55 million to 18 borrowers through FAIR, its open-ended blended finance vehicle focused on household energy access. Recent electric mobility investments through FAIR, including in West African e-mobility platform MAX, convinced the firm that a dedicated debt fund was required. FUEL will target fleet operators, fleet finance providers, charging and battery-swapping operators, original equipment manufacturers, and related services.

Nithio's pitch rests on risk analytics built on more than 100 million payment records across 19 Sub-Saharan African markets, data originally used to standardize credit assessment in pay-as-you-go solar. The company argues that granular repayment data can reduce perceived technology and credit risk. Interest rates for EV finance in Africa range from 14% to 28%, and penetration remains in the low single digits of new vehicle financing.

Development finance institutions including Afreximbank and the IFC have become active lenders to the sector. [IFC Venture Capital Group](https://akta.pro/company-profiles/0004kpl/ifc-venture-capital-group) invested $30 million in dr.consulta, a Brazil-based healthtech, to support expansion from 32 to 80 units and into regions beyond São Paulo and Rio de Janeiro, LAVCA reported on October 8, 2026.

## Nithio's Funding and Portfolio Record

According to akta.pro [company records](https://akta.pro/company-data), Nithio's FAIR vehicle manages $47.1 million in assets and has deployed over 148,000 systems through its portfolio companies across 20 markets in Sub-Saharan Africa. The records list eight funding rounds, including a $10 million debt round led by FMO in January 2024, a $2.8 million debt round in July 2022, a round led by Shell Foundation in January 2022, and a $4.5 million round led by FSD Africa in June 2021. Total funding stands at $58.3 million.

| Funding round | Amount | Lead investor |
| --- | --- | --- |
| January 2024 | $10 million | FMO |
| July 2022 | $2.8 million | Not stated |
| January 2022 | Not stated | Shell Foundation |
| June 2021 | $4.5 million | FSD Africa |

## Debt Deals Elsewhere in October 2026

Ares Management provided $2 billion of a $6.5 billion multi-jurisdiction financing for Phoenix Tower International, funding about $1.8 billion at closing, [Pulse 2.0](https://pulse2.com/ares-provides-2-billion-debt-facility-to-phoenix-tower-international-as-part-of-6-5-billion-financing/) reported on October 11, 2026. Anthropic is offering Blackstone a yield of over 10% to finance its latest chip deal, with Blackstone funds investing $9 billion in debt backed by Anthropic's five-year lease payments on the chips, according to a Financial Times report cited by [Channel NewsAsia](https://www.channelnewsasia.com/business/anthropic-offers-blackstone-double-digit-yield-in-chip-financing-deal-ft-reports-6467711) on October 17, 2026. Apollo Global Management is exploring expanded financing for governments and state-backed firms, with Europe as a key focus, [Privateequitywire](https://www.privateequitywire.co.uk/apollo-eyes-bigger-role-in-government-financing/) reported on October 7, 2026.

## Nithio's 2027 First Close Target

Nithio is targeting a $100 million first close in 2027 toward the overall $150 million target. The World Bank is developing a proposed $250 million blended-finance equity fund for commercially proven e-mobility business models in Africa.

## Companies in this story

- [Nithio Holdings company profile](https://akta.pro/company-profiles/0000b8q/nithio-holdings) · website: https://www.nithio.com
- [IFC Venture Capital Group company profile](https://akta.pro/company-profiles/0004kpl/ifc-venture-capital-group) · website: https://www.ifc.org/vc

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