Pawame, a Kenyan solar energy startup, has obtained US$1.7 million in grants and US$750,000 in equity to fund its growth and expansion.
Pawame startup founders
Founded five years ago by Alexandre Allegue, Majd Chaaya and Nick Sparks, Pawame enables customers to purchase solar home systems via a pay-as-you-go (PAYG) subscription model and helps them access credit using their mobile phones.
The firm provides quality solar home systems in remote areas of Kenya, with clients making payments through their mobile phones.
This business model uses energy as a bridge to help families build a credit history and gain access to other products.
The US$1.7 Million comes in the form of grants from various organizations, including AECF REACT Kenya, Kenya Off-Grid Solar Access Project(KOSAP), Netherlands Enterprise Agency, and the Energy and Environment Partnership, SNV.).
The US$750,000 in equity funding includes US$250,000 from the Launch Africa Fund.
The firm has ambitions to become a pan-African company and connect one million customers to power by 2025.
Pawame has also unveiled a US$5 million Series A funding round to power its growth in Africa.
Its energy products supplant dirty kerosene lamps, while the firm’s solar products help protect and change the lives of off-grid families.
Funds from the firm’s Series A equity round will accelerate the firm’s growth by delivering a broader array of life-changing products to more families in Kenya and, eventually, to other parts of Africa.
ALSO READ: Kenyan Fintech Startup AZA Finance Raises $20 Million in Funding
