BBOXX has successfully crowdfunded €6 million (£5.15m) for African energy access.
The firm is using the money to install pay-as-you-go solar home systems across Kenya, Rwanda, Togo, the Democratic Republic of Congo, Mali, Senegal and Guinea.
It worked with sustainable crowdfunding platform Trine to raise six funding rounds over the last 12 months and expects the finance to positively impact the lives of over 200,000 people in these countries, through the provision of affordable, reliable and clean energy.
Repayments from the loans have now started to go out to investors.
Mansoor Hamayun, CEO and Co-Founder of BBOXX said: “Hundreds of millions of people in Africa still live without electricity. Collaborating with Trine has allowed us to tap into retail investors who share our vision for transforming people’s lives through sustainable energy provision.
“Crowdfunding can change the way the solar industry is financed as well as putting pressure on existing investors in the space to adapt their business models – both of which will be beneficial for customers.”