Sun King Secures USD 7 Million Boost From Lendable For Expanding Clean Energy Access In Africa
Summary
Sun King, a global leader in off-grid solar energy, has successfully secured an unsecured loan of USD 7 million from Lendable, a prominent provider of debt to fintech companies in emerging markets.This strategic partnership is poised to catapult Sun Kings reach, facilitating the scaling of its business operations. As a leading player in the design, distribution, and financing of solar home systems, Sun King is at the forefront of transforming the energy landscape in Africa. The funds raised will specifically support the acquisition of solar home system inventory, aligning with both companies shared goals of fostering financial inclusion and sustainable development.Krishna Swaroop, CFO of Sun King, stated, We are delighted to partner with Lendable in our mission to promote access to energy and financial inclusion and create a sustainable, clean energy future for Africa. Our investment underscores our commitment to fostering sustainable development and promoting clean energy initiatives that positively impact communities. Sun Kings proven track record and commitment to innovation align seamlessly with our mission, making this partnership a powerful force for change.This collaboration between Sun King and Lendable stands as a testament to the shared vision of creating a more sustainable and inclusive energy future for Africa, paving the way for transformative growth and positive impact.