Spiro, an African electric mobility company, has appointed Ram Ramanathan as its new Group Chief Financial Officer (CFO), the company announced on September 25, as it continues to expand its electric motorcycle and battery-swapping operations across the continent.

Ramanathan brings three decades of international finance and general management experience to the role. He has previously held senior finance and leadership positions at IFFCO Group, Landmark Group and PepsiCo, with experience spanning strategic and operational finance, mergers and acquisitions, capital raising, treasury, corporate governance and financial transformation.

According to the company, Ramanathan has worked across more than 90 countries, led 22 cross-border transactions and helped arrange more than $5 billion in equity and international debt financing.

Ramanathan to oversee finance as Spiro scales

As Group CFO, Ramanathan will oversee Spiro's finance function and support its financial strategy as the company expands its operations. His responsibilities will include financial planning and performance, capital allocation, treasury, governance and financing. He will also support investments Spiro's electric vehicles, battery-swapping network, manufacturing and energy infrastructure.

"Ram brings a depth of financial and strategic leadership that will be highly valuable as Spiro continues to scale," said Group CEO Anant Badjatya, adding that Ramanathan's experience in capital markets, M&A, treasury and transformation would strengthen the company's financial capabilities as it expands across Africa.

Ramanathan said he would focus on building the financial capabilities, governance and capital structures needed to support the e-mobility company's expansion.

Appointment follows fresh financing

The appointment comes as Spiro has secured significant financing to expand its electric mobility operations. In June, the company announced that it had closed its latest funding round at $270 million following a $55 million investment from Chinese growth-stage fund NewTrails Capital. Spiro said the funding would support the expansion of its battery-swapping network, industrial footprint and electric vehicle infrastructure across Africa.

Earlier in February, the company secured $50 million in debt financing from the African Export-Import Bank (Afreximbank), Nithio and the Africa Go Green Fund, managed by Cygnum Capital. At the time, Spiro reported that it had deployed more than 80,000 electric motorcycles and operated more than 2,500 battery-swapping stations.

Financing activity has continued in recent months. On September 21, the Africa Go Green Fund announced an additional $18 million commitment, taking its total financing commitment to $36 million. The additional funding is expected to support the deployment of more electric motorcycles and the expansion of battery-swapping infrastructure in Uganda and Rwanda.

As of September 2026, Spiro said it had deployed more than 135,000 electric motorcycles and completed more than 50 million battery swaps across its seven active African markets — up from the more than 80,000 motorcycles the company reported in February.

Also in September, the company announced a partnership with Chinese electric two-wheeler manufacturer Yadea to expand electric mobility across Africa. At the time, the platform reported more than 130,000 electric motorcycles, more than 2,500 battery-swapping stations and over 50 million battery swaps.

Spiro currently has assembly facilities in Uganda, Kenya, Nigeria and Rwanda — including the two markets named in the Africa Go Green Fund's latest commitment — according to its latest corporate information.