XSML Finances Expansion of Car Rental Services in Congo (Sub-Saharan Africa)

Source: XSML

Emerging markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Dalio, a car rental service provider that operates under the AVIS brand. Dalio intends to use the new financing for expansion plans in Kinshasa and Lubumbashi. Financial details of the transaction, which was structured through XSML’s Central Africa SME Fund (CASF), were not disclosed.