Nigerian energy fintech start-up SunFi has secured $2.325 million in seed funding from investors including Nairobi-based Factor[e], Sterling Bank's SCM Capital Asset Management, Voltron Capital, and Norrsken Impact Accelerator. The funding round, which also involved Ventures Platform and Sovereign Capital, will allow SunFi to expand operations, enhance its customer advisory services, and improve its fintech features over the next 12–18 months.
SunFi, founded in 2021 by Rotimi Thomas, Tomiwa Igun, and Olaoluwa Faniyi, aims to transform access to clean energy by creating a marketplace of clean energy products with flexible payment options tailored to customers' financial and energy needs. To date, SunFi has provided its customers with more than $600,000 and has accepted over 40 solar system vendors onto its platform.
In addition to its lease-to-own and subscription models, SunFi is working on a third revenue source to help solar providers better manage their inventory. CEO Rotimi Thomas said, "We’re the guys in the middle of all this," referring to the gap between customers seeking affordable solar solutions and banks' fear of technical risk.
SunFi hopes to convert more than 4,000 consumers and expand its 29-person workforce with the new funding. The company's mission is to create value for clean energy investors and reduce the technical and financial risks associated with financing solar solutions.
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