SunFi, a Nigerian fintech company, has secured $2.325 million in seed funding to expand its innovative approach to solar energy access. Led by investors like Factor[e] and SCM Capital, this funding will enable SunFi to improve its platform and connect more Nigerians with affordable solar solutions.
Recognizing the challenges of accessing reliable electricity in Nigeria, SunFi addresses the critical need for affordable and accessible solar energy. The company’s unique value proposition lies in its ability to bridge the gap between customers seeking affordable solar solutions and the financial institutions hesitant to underwrite the inherent risks.
SunFi acts as a crucial intermediary, de-risking solar investments for both lenders and providers. By aggregating solar providers and offering flexible payment options like lease-to-own and subscription models, SunFi empowers customers to make informed choices and access clean energy that meets their specific needs and budgets.
This innovative platform not only benefits customers but also enhances the business models of solar providers. SunFi provides a centralized platform for providers to manage their operations, access financing, and expand their customer base.
With this funding, SunFi aims to significantly expand its reach, onboard more solar providers, and serve thousands of customers within the next 18 months. The company is also exploring avenues to leverage debt financing from commercial banks to further scale its operations and meet the growing demand for affordable solar energy in Nigeria.
