Kenyan off-grid solar startup Pawame crowdfunds $543k
Announced Earlier by Disrupt Africa, Kenya’s Pawame has Raised $543k through CrowdFund ;
“We have been fortunate to date to attract supportive, visionary equity investors and now for the first time, we have successfully crowdfunded a significant amount of debt finance through Trine, which bodes well for the future,” said Maurice Parets, CEO of Pawame.
To date, Pawame has connected over 4,000 homes to solar power in Kenya. It said its strong proposition and initial success had helped secure the debt funding, which will be used to finance equipment and inventory which in turn will enable further growth and accelerate expansion.
The startup’s chairman and co-founder Alexandre Allegue said debt-based crowdfunding had proven to be a great alternative for Pawame, as it offers more flexibility, lower interest rates and more options to secure resources when compared to a traditional bank loan.
“It is a great way to access financial support and resources outside traditional lending form with like-minded investors aligned to our vision,” he said.
