Thursday, March 28, 2024
No menu items!
spot_imgspot_imgspot_imgspot_img
Ad

Top 5 This Week

bama cap

Related Posts

Kenya’s Pawame crowdfunds $543k debt financing

Pawame, young Kenyan off-grid solar energy startup, has raised $543,000 in debt finance via Sweden-based crowdfunding company TRINE. This sum is in addition to the successful series A funding of $2 million, raised in March of this yer from Gulf-based investors.

The company, founded in 2016, has its headquarters in the UAE and with operations in Kenya. It is an off-grid home solar company aiming to electrify the 150 million households (70% of the population) in sub-Saharan Africa that don’t have access to grid power. The startup’s main purpose is to provide energy access as a gateway to enhancing the quality of life of off-grid communities in Sub-Saharan Africa (150 million households).

“We have been fortunate to date to attract supportive, visionary equity investors and now for the first time, we have successfully crowdfunded a significant amount of debt finance through Trine, which bodes well for the future,” said Maurice Parets, CEO of Pawame.

- Ad -

Pawame has to this date connected north of 4,000 homes to solar power in Kenya. This initial success played a major role in enabling them to secure the debt funding. This crowdfunded funds will accelerate the companies growth through the acquisition of equipment and inventory.

The startup’s chairman and co-founder Alexandre Allegue hails debt crowdfunding as quote, “A great way to access financial support and resources outside traditional lending form with like-minded investors aligned to our vision.”

- Ad -

Popular Articles