San Francisco based solar financing platform Angaza raised a $10.5m Series B led by Emerson Collective
Most of the 1.2 billion off-grid consumers across Sub-Saharan Africa, Asia, and Latin America live at the “bottom-of-the-pyramid,” which means they don’t have enough cash at any one time to purchase a modern energy device outright. Every year this consumer base literally burns over $30B of their hard-earned income on candles, disposable batteries, and kerosene to light their home and power their devices. That means they are stuck in a perpetual cycle of poverty as this often equates to up to 20% of their income. By offering a Pay-As-You-Go option for solar power, off-grid families can purchase clean, reliable electricity and products in small, affordable increments.