ImpactAlpha, July 3 – D.light has designed and manufactured small-scale solar products that have provided affordable electricity for nearly 100 million people.
The company raised $18 million in debt to expand pay-as-you-go financing for customers in Africa, where less than 40% of people have access to electricity grids.
Unlocking energy access opportunities requires accelerated financing options for low-income customers in particular. “Significant amounts of capital are required to enable us to continue providing these financing plans for our customers as we grow,” said d.light’s Ned Tozun in a statement.
The latest financing was backed by solar finance company SunFunder, Developing World Markets, solar investor SIMA, and two funds of Swiss impact investor responsAbility.
The company has raised close to $200 million in debt, equity and grant funding since launching in 2007, according to Crunchbase.
