Sun Exchange secures $3m investment from Mauritian PE fund
Posted on: 10 June, 2020 at 8:10 AM
Sun Exchange, the world’s first peer-to-peer solar leasing platform, announced a $3 million investment by ARPF, a Mauritian private equity fund advised by London-based ARCH Emerging Markets Partners Limited (ARCH). This investment marks the close of a $4 million series A funding round by Sun Exchange.
Sun Exchange will use the funds to:
– Scale its solution and expand into new markets across sub-Saharan Africa, enabling platform users to solar power schools, clinics, farms, cell towers, water plants, businesses and other organisations across the continent.
– Bolster marketing activities and substantially grow the platform’s global user base.
– Make significant software enhancements to extend its platform capabilities and features.
“Sun Exchange is positioned to emerge as an enabling force in the imminent global energy and economic transformation, with a first-of-a-kind platform that harnesses the power of a united global community to unlock the potential of distributed solar power in emerging markets,” said William Barry, managing director, ARCH. “ARCH is thrilled to partner with Sun Exchange on this journey to expand the success the company has already seen in South Africa throughout ARPF’s target markets in sub-Saharan Africa.”
“There has never been a more critical time to accelerate the Sun Exchange mission of connecting the world to the sun, as socio-economic and energy systems across the world are on the brink of being reset and redefined,” said Abe Cambridge, CEO and founder, Sun Exchange. “This milestone unlocks the next phase of growth for Sun Exchange, which includes building our team, creating several new, sustainable, clean energy jobs, and providing our growing user base the opportunity to further diversify their solar cell portfolios across new regions and industries. With our shared passion for driving renewable energy proliferation and sustainability across Africa, ARCH is the perfect partner for Sun Exchange as we scale.”
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