Minibus taxi company Bridge Taxi Finance has secured EUR 10mn in debt financing from Triodos Investment Management.
The investment supports the South African company’s move to cleaner vehicles that meet EURO IV and V emissions standards. These new vehicles will replace its old fleet, which has higher carbon emissions, and in the coming years, the company has plans to offer electric vehicles.
The minibus company is a subsidiary of Mokoro Holdings, a development company that offers finance and support to the minibus taxi industry. This includes strategic investments and associations in industries that support the developmental finance chain such as logistics, credit solution services, spare parts suppliers and vehicle servicing.
Verdant Capital acted as adviser on the deal.