Change Com is proud to announce that on 21 August 2024 it made a decision to invest in Offgrid Finance. Offgrid Finance specializes in financing loans for small and medium-sized enterprises (SMEs) to afford clean renewable technologies. Their focus is on Kenya, particularly in solar, agriculture, food, and logistics technology. The company’s overarching purpose is to create a scalable financing solution for emerging market SMEs investing in clean technology. Their solution aims significantly to cut greenhouse gas emissions while creating positive social impact in addition to reduce risk, generate solid returns for investors.
One of the significant challenges they’ve identified is the inability of the market to meet the growing demand for SME finance for clean technology. To address this, Offgrid Finance proposes de-risking cleantech SME loans by using assets as collateral. By doing so, they aim to accelerate cleantech SME finance in Africa.
The company employs various strategies, such as tech-enabled financing platforms, risk-reduction approaches through partnerships with cleantech vendors, SME loan analytics, and support for low-emission technologies.
Change Com has joined the pre-seed round. Previously Offgrid Finace has raised capital from 54 Collective (former Founders Factory Africa) and Climate VC.
