Clean energy financing platform Nithio raises USD 23m to scale lending ops

Solar system installation. Source: Ministry of Natural Resources and Energy - Eswatini

September 21 (Renewables Now) - Nithio FI BV, a blended finance, permanent capital vehicle of AI-enabled clean energy financing platform Nithio, has closed its first fundraising round of USD 23 million (EUR 19.6m).

The round includes a USD-10-million contribution from the US Development Finance Corporation (DFC), which was joined by FSD Africa Investments and EDFI-ElectriFI.

Nithio is an energy financing platform that has so far invested in four high-impact off-grid solar and microfinance institutions in Kenya and Nigeria. The fundraising will allow the firm to scale its data-driven financing to impact over 3.5 million people by 2025 and drive climate change adaptation efforts in the aforementioned countries as well as in Uganda, according to the announcement.

(USD 1.0 = EUR 0.852)

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