Proparco commits $10m in equity financing to d.light
d.light, a leading innovator of solar energy products, announced that it had raised $10 million in equity financing from Proparco. This latest funding will enable expansion of the company’s solar and pay-go consumer finance business in Africa.
Commenting on the investment, d.light co-founder and CEO, Ned Tozun said, “We are excited to have Proparco as a d.light shareholder. Proparco’s alignment with our mission and commitment to job creation and development, makes them an ideal partner for d.light as we begin our next phase of growth. We have great confidence that we will continue to accelerate and deepen this impact, as we expand our geographic footprint and product portfolio to delight our customers. The future is truly bright for d.light and the off-grid solar industry as a whole.”
Damien Braud, head of equity for Africa and the Middle East at Proparco said, “Supporting companies dedicated to improving access to clean, reliable and affordable energy is one of Proparco’s top priorities. We are impressed by d.light’s track record in meeting evolving customer needs for access to electricity across both Africa and Asia. Their experienced team has developed efficient sales and distribution channels in these markets and continues to expand their product range. We look forward to supporting the company to realise its growth ambitions.”
Since its founding in 2006, d.light has provided solar energy to more than 100 million people in 70 countries.
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