Nithio Holdings, Inc., a Washington, DC-based energy finance company focused on the off-grid sector in Africa, raised a seed funding round of undisclosed amount.
Backers included Kupanda Holdings, a joint venture between Kupanda Capital and TPG Growth, and the Rise Fund.
Led by Héla Cheikhrouhou, Co-Founder, Chairman, and CEO, and Kate Steel, Co-Founder and Chief Operating Officer, Nithio is an energy finance platform that provides services to distributed energy service companies, capital providers, governments, and other stakeholders in the distributed solar energy sector in Africa.
The company also serves as the infrastructure for large capital providers to pool and deploy concessional funds. These funds can be used to support households without an ability to pay for energy services or can also be used to purchase consumer receivables directly from distributed energy companies.