PEG Africa Raises $5M in Debt Funding From ElectriFI
Wednesday, September 4, 2019
Accra-based pay-as-you-go solar company PEG Africa has raised $5-million in funding in the form of debt finance, from the EU-funded Electrification Financing Initiative (ElectriFI).
PEG Africa currently provides 400 000 daily users in Ivory Coast, Ghana and Senegal with credit for solar home systems via its pay-as-you-go financing model.
The firm was founded in 2013 by CEO Hugh Whalan and COO Nate Heller.
The company explained in a statement today that the funding will be used to help grow PEG Africa’s existing markets.
Photo courtesy of Christopher Herwig.
Source: Ventureburn (link opens in a new window)
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