Kenyan Start-Up Secures Funding To Fuel Its Expansion Into Sub-Saharan Africa. Pawame has also raised an additional US$750,000 in equity funding, including US$250,000 from Launch Africa Fund. The company will use the funds to fuel its geographical expansion and accelerate the development of new products. It has ambitions to become a pan-African company and to electrify over one million people in Sub-Saharan Africa by 2025.
Founded in 2016 by Alexandre Allegue, Majd Chaaya and Nick Sparks, Pawame allows customers to access solar home systems via a pay-as-you-go (PAYG) subscription model, and also helps them to obtain micro-loans via their mobile phones. According to Disrupt Africa, the start-up offers a portfolio of innovative, high-quality solar home systems in remote areas of Kenya on a micro-financed basis, using mobile money repayment. The business model also uses energy as a bridge to help families build a credit history and gain access to other products.
In addition, Pawame has announced it is now launching its US$5 million Series A funding round to further boost its growth and expansion into Africa. “Energy is just the beginning, supplanting dirty kerosene lamps, our solar products help protect as well as change the lives of off-grid families. The funds from our Series A equity round will allow us to accelerate our growth by delivering a broader array of life-changing products to more families in more of Kenya and, eventually, to other parts of Africa,” the company told Disrupt Africa.
Pawame is transforming the lives of individuals and entire communities, starting with modern energy access. Pawame operates anywhere underserved people are, pushing boundaries deep into some of the most rural communities on the continent while functioning sustainably and with integrity.
More than a pay-as-you-go solar home system provider, Pawame is a platform for opportunity. With each on-time payment, customers prove that they are responsible payers and, over time, forge a rich credit history that opens the way to everything from smartphones to solar water pumps to education loans—entry points to life-altering worlds of financial empowerment and digital connectivity that were previously inaccessible.