Africa-focused renewable energy finance platform, Nithio FI announced that it has secured $4.5 million in funding to offer sustainable and renewable off-grid energy solutions for homes and small businesses in Kenya, Nigeria, and Uganda.
This round was led by FSD Africa Investments (FSDAi), the investment tier of FSD Africa, a financial sector development and catalyst programme based in Nairobi and funded by the UK Aid.
Nithio Holdings — the parent company — is an AI-enabled energy financing platform whose mission is to standardise credit risk assessment by investing directly and efficiently in off-grid solar companies. Currently, Nithio FI provides receivables-backed financing in Nigeria, Uganda, and Kenya, with plans to foray into other African countries in 2022.
Read more: Techpoint.africa