Nitho raises financing from DFC, others

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Nithio FI has secured the capital it needs to implement its plans to scale its business further in Africa which will positively impact as many as 3.5 million people by 2025 and drive climate change adaptation efforts in Kenya, Uganda, and Nigeria. The total amount of capital raised is $23 million for this round of which the U.S. International Development Finance Corporation (or DFC) is investing $10 million. FSD Africa Investments and EDFI-ElectriFI are among the others providing capital to the energy financing platform. No additional deal terms have been disclosed.

“Nithio has created an innovative, data-driven solution that fills a large gap in the market to sustainably scale capital flows to the clean energy sector,” said bobby Pitman, Nithio’s founder, and a Partner at Kupanda Capital. “By standardizing credit risk, Nithio’s investments will have an outsized impact towards achieving universal energy access and combating the effects of climate change.”

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