TPG’s The Rise Fund, Powerhouse Ventures, others in renewable energy financing deal
Venture capital fund Powerhouse Ventures has participated in Nithio’s $7.1 million series A round, led by TPG’s The Rise Fund in partnership with Kupanda Capital, and joined by Emerson Collective. This round of equity financing complements the recent close of an initial $23 million in Nithio FI from ElectriFi, the U.S. International Development Finance Corporation (DFC), and others.
Nithio’s financing platform uses unparalleled consumer credit intelligence to unlock off-grid energy access in Africa. By providing AI-driven insights and directing capital to scalable distributed energy projects, Nithio is providing a tool for businesses, investors and governments to scale energy financing on the continent. Nithio also invests private and institutional capital in vetted and risk-adjusted energy access opportunities through its data-driven financing platform, Nithio Financial Intermediary (FI).
Nithio is led by co-founder and CEO, Hela Cheikhrouhou (former minister of energy, mining and renewables of Tunisia), co-founder and COO Kate Steel (former director of the energy office at USAID’s Power Africa and previously led renewable energy and energy access investments at Google), and co-founders and board members Queen Chinyere Quinn and Bobby J. Pittman of Kupanda Capital.
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