Specialist investment business Inspired Evolution is leading a consortium of investors backing d.light, a solar power and products company with operations in Africa and Asia. Between them, the consortium are investing $41 million of equity, which, as well as bringing the total amount of equity and debt raised by d.light to exceed $100 million, allows some of the firm’s earliest investors to exit their investments.
As well as Inspired Evolution, Dutch development bank FMO, and Scandinavian development finance institutions Swedfund and Norfund made up the membership of the investor consortium for this transaction. The capital will be used to help d.light expand its solar and pay-go consumer finance business in Africa, where the company’s revenues and profitability continue to accelerate at an impressive rate. It’s expected that this investment, along with solid debt financing and receivables funding solutions, will set the company on an even steeper growth trajectory.
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