Saturday, June 12, 2021 UTC
Recognized by industry leaders for extensive coverage on African Asset Management

AGF 2021 Educational Webinars

News > Investors

Proparco backs d.light with $10m

Africa Global Funds
May 27, 2021, 10:52 a.m.
366

Word count: 341

Proparco has invested $10m in d.light, an innovator of solar energy products, to enable the expansion of the company’s solar and Pay-Go consumer finance business in Africa. 

Receive ONE magazine and TWO locked articles of your choice for FREE when you register an account
Share:

Proparco has invested $10m in d.light, an innovator of solar energy products, to enable the expansion of the company’s solar and Pay-Go consumer finance business in Africa. 

Damien Braud, Head of Equity – Africa & Middle East, Proparco, said: “Supporting companies dedicated to improving access to clean, reliable and affordable energy is one of Proparco's top priorities. We are impressed by d.light’s track record in meeting evolving customer needs for access to electricity across both Africa and Asia.”

“Their experienced team has developed efficient sales and distribution channels in these markets and continues to expand their product range. We look forward to supporting the company to realize its growth ambitions.”

Since its founding in 2006, d.light has provided solar energy to more than 100 million people in 70 countries. Their extensive product line ranges from extremely affordable portable solar lanterns to solar home systems that can power multiple lights, mobile phones, and small appliances, including a flat-screen television. 

d.light’s solar solutions have won multiple international awards for their innovation and design and are sold through more than 30,000 outlets around the world—the largest existing distribution network for these types of products. 

With a strong emphasis on product quality and customer service since its earliest days, d.light has built up a loyal customer base in emerging markets.  

d.light continues to profitably sell hundreds of thousands of units per month while maintaining excellent quality at scale. 

The company is led by a strong team of deeply experienced, internationally recognized leaders and highly committed, talented local staff. 

Ned Tozun, d.light co-founder and CEO, said: "We are excited to have Proparco as a d.light shareholder. Proparco’s alignment with our mission and commitment to job creation and development makes them an ideal partner for d.light as we begin our next phase of growth.” “We have great confidence that we will continue to accelerate and deepen this impact, as we expand our geographic footprint and product portfolio to delight our customers. The future is truly bright for d.light and the off-grid solar industry as a whole.”

About Our Publication

At Africa Global Funds (AGF) we are focused on reporting exclusively on the African Asset Management industry (traditional and alternative asset classes). Featured in our monthly magazine you will find exclusive interviews, analysis, news, comments and more dedicated to the topic. Each month we also compile data on the latest PE (fundraising, deals, and exits), Funds and Markets performance stats, along with economic indicators; available in the magazine and online.

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration