Easy Solar raises USD 5m for West Africa expansion
Easy Solar, panels, Africa.
Image by Easy Solar.
Easy Solar, which distributes solar energy solutions in West Africa, has raised USD 5 million (EUR 4.3m) in equity and debt financing to fund its expansion in the region.
The firm secured USD 3 million from a Series A funding round led by impact investment fund Acumen and Dutch development bank FMO. In addition, investment platform Trine has provided a USD-2-million debt facility.
The fresh funds will make it possible for Easy Solar to scale its reach in Sierra Leone and Liberia and expand its portfolio of products for existing customers.
The company's product range includes small solar lanterns for lighting and mobile charging, pico solar home systems with appliances like TVs and fans, as well as kW sized systems designed for residential, commercial, and industrial users.