Nabilah Safira
TechInAfrica – The venture-backed energy finance platform Nithio FI has secured a $4.5m funding focused on homes and small businesses in Kenya, Nigeria, and Uganda.
In the round led by FSD Africa Investments (FSDAi), it complements to the company’s total $23m funding, which seeks to provide renewable energy for the households, smallholder farmers, and micro-entrepreneurs, and in its 5-year umbrella goal, to provide over 224,000 products, such as solar home systems (SHS) or efficient appliances across the continent.
“In order to achieve universal energy access by 2030, last-mile financing must scale to the billions,” Nithio FI Co-founder and CEO, Hela Cheikhrouhou said.
“Nithio has developed an innovative approach powered by its Risk Analytics Engine to lend to small, medium, and large off-grid energy operators to drive scalable connectivity.”
Source: Techpoint.africa
