U.S. Development Finance Corporation Invests $10 Million In Nithio Fi To Scale Clean Energy Financing In Africa
U.S. Development Finance Corporation Invests $10 Million In Nithio Fi To Scale Clean Energy Financing In Africa
09/21/21, 10:28 AM
Money raised
$10 million
U.S. Development Finance Corporation (DFC) has invested $10 million in Nithio's Financial Intermediary, Nithio FI, B.V., an AI-enabled clean energy financing platform. Strongly aligned with DFC's climate-focused investments agenda, this investment enables Nithio to scale its data-driven financing to impact more than 3.5 million people by 2025 and drive climate change adaptation efforts in Kenya, Uganda, and Nigeria. The investment, joined alongside FSD Africa Investments and EDFI-ElectriFI, finalized Nithio FI's first round of $23 million
Company Info
Additional Info
Nithio is an energy financing platform powered by a proprietary AI-enabled risk analytics engine. Nithio developed its innovative approach to standardize credit risk assessments in order to unlock and scale energy access in Sub-Saharan Africa. Nithio advances energy financing at scale through its Financial Intermediary, Nithio FI B.V., which offers receivables-backed financing to off-grid energy providers in Nigeria, Uganda and Kenya. Driven by the Risk Analytics Engine, Nithio FI's innovative approach expands access to off-grid clean energy for households, micro businesses, and smallholder farmers. www.nithio.com