Kingo, an enterprise that sells solar systems, has raised over USD 25 million to date
Kingo, one of the company in our portfolio, has secured a $15.5 million, (seven-year loan from Dutch development finance institution FMO, impact investor Oikocredit and the Infrastructure Development Fund). The loan was arranged by FMO in local currency, and includes $10 million in senior debt and $5.5 million in subordinated debt. Guatemalan company Kingo sells prepaid home solar systems to low-income, off-grid households in Guatemala, Colombia and South Africa. The company has more than 60,000 household customers and installs roughly 7,000 systems per month. The latest round of debt follows actor Leonardo DiCaprio’s equity investment in Kingo in April. “Solar power is key to a future without fossil fuels, and Kingo’s technology will help enable broad use of clean energy across the developing world,” DiCaprio said at the time. Kingo has raised more than $25 million in prior funding rounds. Last year, it raised a $10 million Series B round backed by French energy company ENGIE and Colombian utility EPM.
To find out more, go to: https://www.kingoenergy.com/
