Kingo, a provider of prepaid energy service using intelligent proprietary technology, raised $4M in senior secured debt financing.
Developing World Markets (DWM) made the investment.
Founded in Guatemala in 2013 by Juan Fermín Rodriguez, Peter Kasprowicz, Matias de Tezanos CEO of PeopleFund, and Alvaro Rodriguez, Kingo leverages the power of the sun to bring clean and cheap renewable energy to families and communities across the developing world. The company identifies households that will benefit from its energy solutions in off-grid communities and installs efficient solar generators on-site, free of charge. Once these units are in place, villagers can purchase prepaid electricity usage codes by day, week or month to charge their devices and illuminate their homes.