Convergence Partners backs Yellow’s latest Series B funding round
Convergence Partners announced the closure of its investment in Yellow, a provider of pay-as-you-go finance for off-grid solar home systems and connectivity solutions for low-income consumers in parts of East Africa.
Brandon Doyle, CEO of Convergence Partners says, “We are excited to be backing the Yellow team. We have been tracking off-grid solar power asset finance space for many years but have failed to find a business model and team that we felt we could back until now. Yellow’s offering also sits well with our promise to our investors of strong investment returns married with solid social development impact; in this case by tackling the triple challenge of financial inclusion, green energy distribution, and broadband penetration, and doing so profitably while servicing the unbanked communities of the lowest income countries of Africa.”