Yellow raises $14 million in Series B funding
Yellow, a leading PayGo solar startup in Africa, has secured $14 million in Series B funding to scale across Africa.
Convergence Partners led the funding round with participation from the Energy Entrepreneurs Growth Fund, managed by Triple Jump, and follow-on investment from Platform Capital Investment Partners. Founded in 2018, Yellow offers affordable and accessible solar energy solutions to off-grid households in Africa.
The company’s PayGo model enables customers to pay for solar energy products in installments, making clean energy solutions more affordable for low-income households. Yellow’s innovative approach has garnered recognition and support from various organizations, including the United Nations Development Programme and the World Bank.
The $14 million funding round will allow the startup to accelerate its expansion plans and increase its market penetration across the continent. The investment will be primarily allocated to expanding Yellow’s distribution network, enhancing its product offerings, and investing in research and development to improve technological advancements.
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