Solar Startup Yellow Raises $14 Million To Scale Up In Africa
) for a few years. The UAE-based effort does a fabulous job of finding the great work that is happening on this front, bringing it much more attention, and supporting it. If you want something to brighten your day, scroll through those links and read about company after company and organization after organization working wonders to bring clean electricity, clean water, and other great things to people around the world. But — there is always more work to be done.. Yes, that’s the name.
“The newly injected capital is being used to leverage more debt finance to reach more customers with financed smartphones and solar systems. While the business will broaden its product offering to include other mobile financial services, growth will be fueled primarily by deepening our expertise in our existing product categories,” said Yellow founder and CEO, Heyink.
So, how much has Yellow actually helped so far? “Yellow claims to be profitable having recorded a compound annual growth rate of 265% over the last four-year period. The startup says its network of 1,100 agents, who source and make applications for the asset finance on behalf of customers through its proprietary Ofeefee app, have enabled it to penetrate and reach over 400,000 customers in its five markets,”writes.
“For the small and large solar home systems, users pay a deposit of $10 and $68, respectively, and remit the balance through monthly payments spread over six and 24 months.”Featured image courtesy ofI don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there.
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