Finland-based impact fund backs d.light with equity

Image Credit: d.light

An impact investment fund sponsored by Finnfund and OP Group, a Finnish financial services company is backing d.light with equity. The €135 million OP Finnfund Global Impact Fund I is investing $7 million into the solar and pay-go consumer finance business which will use the capital to expand its operational footprint in Africa. No additional terms of the transaction had been made available as we went to press.

Since its launch in 2006, d.light has provided solar energy to over 125 million people across 70 countries. Customers can buy solar home systems and an extensive range of associated solar lamps, paying to own the products over time. The solar home systems enable clients to power multiple lights, mobile phones, flat-screen TVs, and other small appliances. These products are purchased via an extensive global network of 30,000 outlets through which the company shifts hundreds of thousands of stock items every month. d.light has some of the lowest pay-go delinquency rates in the industry.

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