A Kenyan Energy-as-a-Service company, Solarise Africa, has secured $3 million from EDFI ElectriFI to expand its footprints in Kenya.
Geraldine Crosset, ElectriFI Senior Investment Officer at EDFI MC, confirmed the investment on Wednesday in a statement.
According to the statement, the funding would go toward offering specific commercial and industrial (C&I) clients across the continent specialized financing options for decentralized energy solutions.
The renewable energy company was launched in 2017 by Founders Jan Albert Valk, Patrik Huber, and Sakkie Van Wijk.
“Solarise Africa appreciates the trust EDFI ElectriFi continues to place in us with this third investment.
“With the funds, we can further expand our team and hope to make solar energy a reality for more businesses and to help drive renewable energy adoption on the continent,” added Jan-Albert Valk, Co-founder, and CEO, of Solarise Africa.
Crosset added that the fund would bridge the investment needs until the company closes its upcoming equity round.