Trine, a Gothenburg, Sweden-based crowd-investment platform for profitable solar energy projects, raised €6m in Series A funding.
The round was led by venture investor Gullspång Invest with participation from several investors including Andrew Reicher (Chairman of Berkeley Energy Africa) and Lars Thunell (former CEO of the International Finance Corporation).
The company will use the funds to scale operations in East Africa and Europe and expand the crowd-investing platform’s funding capacity.
Founded in 2015 by Sam Manaberi, CEO, Trine is a fintech startup that operates a platform dedicated to crowd-financing solar energy projects across rural areas of Africa. To date, it has already catalyzed more than €1m crowd-investments for thirteen off-grid projects in six Sub-Saharan countries, empowering over 120,000 people to escape energy poverty.
The minimum amount a person can invest per project is €25.
The company’s team also includes Andreas Lehner (COO), Christian Genne (CTO), Christoffer Falsén (CFO), Hanna Lindquist (Communications & Customer Growth Manager), John Sandberg (Corporate Partnerships & Project Analyst), Niclas Sahlin (Front End-developer), Jennie Lindell (Web Designer), Jon Warghed (Data Scientist), and Matthew McShane (Regional Manager for East Africa).
It is also backed by a significant advisory panel, including Palle Stenberg (Nudie Jeans), Lena Apler (Collector Bank), Niklas Adalberth (Klarna), and Lars Jacobsson (The Perfect World Foundation). Andrew Reicher and Lars Thunell have now also joined the panel.
Trine also has a local office established in Nairobi, Kenya.