SunFunder raises US$2.5 million for off-grid solar

By Ben Willis – 13 November 2014,  

US crowd-funding company, SunFunder, has raised investment worth US$2.5 million for off-grid solar projects in emerging markets.

The two-stage Series A equity round attracted investments from Schneider Electric and venture capital firms Better Ventures and Khosla Impact, among others.

SunFunder has raised US$2.5 million for off-grid solar in emerging markets. Image: Nathalie Bertrams.

SunFunder has raised US$2.5 million for off-grid solar in emerging markets. Image: Nathalie Bertrams.

SunFunder provides working capital and project finance loans for solar home systems, micro-grids and commercial solar projects in emerging markets where access to power is limted.

The company’s chief executive, Ryan Levinson, said its latest deal underlined the need for innovative financing solutions to support solar in such areas.

“Over a third of the world lacks access to reliable energy and solar energy is leapfrogging the grid in these markets. Access to reliable finance is the main barrier preventing solar energy providers from reaching scale. In the last two years, SunFunder has established a solid track record and proven that the market is economically viable. This investment round will allow us to expand our capacity in local markets and substantially grow our loan portfolio.”

Sandhya Hegde of Khosla Impact Fund said: “Investors agree that solar is a reliable, clean market-based solution, however solar companies and projects struggle to attract finance. SunFunder’s diligence weeds out risks, and their technology and systems make investments in off-grid solar a mainstream finance product. It’s creating a standard for viable, profitable and ‘bankable’ solutions to attract large commercial investors to this rapidly growing industry.”

SunFunder said the investments it had made so far in emerging markets had given 140,000 people access to electricity. The company plans to channel up to US$100 million into solar projects around the world over the next three years.



Tags: ,


ForbesHow Crowdfunding Can Supercharge Your Campaign In 2016ForbesThey say that there are about 7.45 billion people living in this world right now. Imagine that if you could get each of these seven-and-a-half billion people to contribute one cent to your project, well, you know what I [...]

How Crowdfunding Has Changed the Startup Game - Singularity HUBSingularity HubThe development of innovative technology — from virtual reality headsets to space exploration to solar-powered roadways — is no longer the province of ...and more » [...]

Crowdfund InsiderWhen It Comes to Retail Crowdfunding, SAFEty FirstCrowdfund InsiderOn September 22nd, Crowdfund Insider published a post summarizing the arguments presented in our new essay entitled “Crowdfunding and the Not-So-Safe SAFE“ (forthcoming in Virginia Law Review Online). [...]

The GuardianCrowdfunding: the new buzzword for academics needing research moneyThe GuardianArchaeologist Dr David Petts, from Durham University, has also used crowdfunding, raising almost £25,000 to fund a project on Lindisfarne, off the Northumberland coast. The dig, in June, led to [...]

The Daily DotHey buckaroos, Chuck Tingle and Zoe Quinn are crowdfunding a ...The Daily DotErotic ebook legend Chuck Tingle and game developer Zoe Quinn are almost ready to unleash the biggest tingler of them all. The two have teamed up for a full ...and more » [...]

Bitcoinist.netVulture Capital Hits Crowdfunding Minimum for 'Listen Carefully'Bitcoinist.netHowever, in light of achieving its minimum crowdfunding goal, Hedley Productions has decided to move up the start date for Listen Carefully's filming from its late 2017 estimate [...]

“Beyond the Void” Announces New Crowdfunding VenturenewsBTCRTS-MOBA (multiplayer online battle arena) game Beyond the Void has joined forces with crowdfunding platform OpenLedger to build a new funding series for what is being touted as the “world's first MOBA game ICO.” The crow [...]

ThinkAdvisorSEC Approves Intrastate Crowdfunding RulesThinkAdvisorAs SEC Chairwoman Mary Jo White explained in her Wednesday remarks, the agency over the last few years has adopted “several important” new rules to facilitate capital raising by smaller issuers, including new provisions [...]

BloombergCouples Desperate For Children Turn to Crowdfunding FertilityBloombergCrowdfunding has become a popular mechanism for many couples who can't afford the high costs of IVF, or adoption and surrogacy. “It's not an easy thing to share publicly,” says Crystal Barrett, 33 [...]

CNNMoneyDorothy's fading red slippers saved by $300000 in crowdfundingCNNMoneyThe ruby red slippers worn by Judy Garland in the beloved 1939 film "The Wizard of Oz" are set to undergo a major conservation effort following a successful crowdfunding campaign. The Smithson [...]

CFB Finance

Press Release

CrowdFund Beat News

Hello @CrowdFundBeat's 17363 followers - thank you so much for following! Wishing you all a happy Thursday! >>

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |