d.light, a global for-profit social enterprise, raised $50m in debt funding.
Backers included the European Investment Bank, responsAbility Investments, Social Investment Managers & Advisors (SIMA), SunFunder and another mission aligned investor.
The company intends to use the funds to funds to continue its scale-up globally, launch new appliances and solar home system offerings, and to provide financed “Pay As You Go” solar home system products to additional customers in existing and new markets.
will enable , which has already sold 19 million solar products,
Founded in 2007 as a for-profit social enterprise by Ned Tozun, CEO, d.light manufactures and distributes solar lighting and power products designed to serve the more than 2 billion people globally without access to reliable electricity. The company, which has launched its own fully integrated Pay-Go solar home system and and d.light Atlas, a proprietary back-end payment management system, in 2016, has a distribution network of over 15,000 retail outlets.
d.light has offices in San Francisco, Nairobi, and New Delhi.