Sun King, the leading provider of solar energy solutions for off-grid homes in Africa and Asia, has secured a $7 million loan from Lendable, a major financier for fintech companies in developing markets.
This collaboration will fuel Sun King’s expansion, bringing clean energy to more low-income customers across Africa through its innovative pay-as-you-go model.
Lendable’s investment recognizes Sun King’s pioneering role in designing, distributing, and financing solar home systems. This debt financing, dedicated to purchasing more solar systems, reflects both companies’ shared commitment to driving positive change, promoting financial inclusion, and transforming Africa’s energy landscape.
Sun King’s cost-effective solar systems are revolutionizing how people in Africa and Asia access electricity. They have already brought light and power to 95 million people previously in the dark, while also preventing over 24 million tons of carbon dioxide emissions.
These systems offer a sustainable and affordable alternative to kerosene or grid-based electricity, empowering communities to bypass dependence on fossil fuels.
“We are thrilled to partner with Lendable in our mission to bring energy access and financial inclusion to Africa,” said Krishna Swaroop, Sun King’s Chief Financial Officer (CFO).
“This investment will allow us to reach more communities and create a cleaner, brighter future. We look forward to building on this partnership and amplifying our positive impact.”
Sebastian Wichmann, Lendable’s Regional Head for Africa, echoed this enthusiasm: “Lendable is proud to be part of Sun King’s journey in expanding clean energy access across Africa. Our investment reflects our commitment to sustainable development and impactful initiatives. Sun King’s proven track record and dedication to innovation make this partnership a powerful force for change.”
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