This London firm with VC backing just crowdfunded the most ever for an African solar project
Summary
The funding was raised through solar crowdfunding company, Trine, with 4,400 unique investors taking part in the financing via the platform. Retail investors can participate in the platform from €25, but the average investment was between €500-600 in an attempt to help provide supply to areas of the continent, which have little or incredibly limited access to electricity. "I was skeptical about crowdfunding, but I love being proved wrong," BBOXX CEO Mansoor Hamayun said in an interview with Business Insider. People across Africa already spend large amounts of money to access electricity through diesel or kerosene, for example, with BBOXX offering a similar solution, albeit more environmentally friendly. "This deal really puts pressure on traditional investment methods for projects like this, and gives more power to retail investors," added Hamayun.