SA PAYG energy startup Yellow raises $3.3m Series A to scale in Malawi, Uganda
Summary
South African pay-as-you-go (PAYG) solar energy startup Yellow has raised a US$3.3 million Series A funding round to scale-up its footprint to over 100,000 customers in Malawi and Uganda. Founded in 2017, Yellow has enabled 30,000 low income, rural households to access electricity through solar home systems on a financed basis. Yellow will use the funding to grow its development and operations teams, and rapidly scale its off-grid energy offering. However, it also plans to look at broader opportunities its digital distribution platform offers, in consumer items and financial services. “Platform Growth seeks to invest in businesses that combine strong management teams with unique technology.
Funding
Amount
$3.3M
Total raised
Date
May 1, 2020
Announcement date
Investors
-
Lead investors
Company
https://www.yellow.africa/
Funded company
Classifications
industries
No industries detected
applications
Data Management
AskAI Classifications
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