Founded in 2016 by Alexandre Allegue, Majd Chaaya and Nick Sparks, Pawame gives customers access to solar home systems through a pay-as-you-go (PAYG) subscription model, and also helps them obtain microloans through their cell phones.
Pawame offers a portfolio of high-quality, innovative solar home systems in remote areas of Kenya on a micro-financed basis using mobile money reimbursement. The business model also uses energy as a bridge to help households build a credit history and gain access to other products.
Pawame has raised equity funding of USD 750,000, including USD 250,000 from the Launch Africa Fund. The company will use the funds to fuel its geographic expansion and accelerate new product development. It has ambitions to become a pan-African company and to electrify more than one million people in sub-Saharan Africa by 2025.
In addition, Pawame announced that it is now launching its $5 million Series A funding round to further drive its growth and expansion in Africa.
“Energy is just the beginning, supplanting dirty kerosene lamps, our solar products help protect as well as change the lives of off-grid families. The funds from our Series A funding round will allow us to accelerate our growth by providing a wider range of life-changing products to more families in more of Kenya and eventually other parts of Africa,” said Parets.
