Friday
October 1
2021

Sun Exchange Secures $2.5 Million Convertible Note Financing

Sun Exchange (www.SunExchange.com) has secured $2.5 million in the form of a convertible note from ARCH Emerging Markets Partners Limited’s Africa Renewable Power Fund (ARPF); This follows ARPF’s previous investment of $3 million as the lead investor in the Sun Exchange Series A funding round.

Sun Exchange, a crowd-based global solar leasing platform, today announced it has secured $2.5 million in convertible note financing from ARPF, a Mauritian private equity fund advised by London-based ARCH Emerging Markets Partners Limited (ARCH) (https://bit.ly/3kWDau2). This follows the company’s close of a $4 million Series A funding round in 2020, led by a $3 million investment from ARCH (https://bit.ly/3B0ZhVC).

The latest investment enables Sun Exchange to continue scaling its success using its crowd-based solar leasing platform to facilitate solar power for small-to-medium organisations in Sub-Saharan Africa, the segment most impacted by rising energy costs, unreliable grid infrastructure and costly backup diesel generators.

Photo courtesy of Russell Watkins/DFID.

Source: Africanews (link opens in a new window)

Categories
Energy, Investing
Tags
clean energy, emerging markets, energy access, funding, impact investing, SMEs, solar energy