TPG and Kupanda JV leads Series A round for Nithio

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Having seeded Nithio with startup capital in 2018, Kupanda Holdings, the joint venture set up by private equity firms TPG Growth and Kupanda Capital has returned to lead the energy finance platform’s Series A round. The investment is being made via TPG’s impact fund, The Rise Fund, which is being joined by Powerhouse Ventures and Emerson Collective for the round. Between them, the investors are putting $7.1 million to work in the business.

Nithio’s finance and underwriting tools are currently focused on the off-grid sector in Africa, providing distributed energy service companies, capital providers, governments, and other stakeholders with a more detailed understanding of consumer credit, climate risk, and behavioral differences, even across individuals of similar profiles. With a more granular understanding of consumer credit risk in Africa, distributed energy companies can target new customers even in the most remote locations across the continent.

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