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Nur Atifi · · 1 min readIn brief: Singapore solar startup nets $10m debt financing for Myanmar expansion
SolarHome, a pioneer in pay-as-you-go solar for off-grid households in Southeast Asia, has raised US$10 million in debt financing from a consortium of international investors, including Japanese crowdfunding platform Crowdcredit and Trine, a Sweden-based crowdfunding platform for off-grid solar energy.
Source: SolarHome
The fresh capital will be used to accelerate SolarHome’s expansion across Myanmar. Since 2017, the startup has installed close to 28,000 solar home systems in the country. It aims to reach a total of 100,000 home installations by end-2019.
The Singapore-based company previously raised US$4.2 million in convertible note funding from investors including Trirec, Insitor Impact Asia, Beenext, and a group of Singapore-based family offices.
Editing by Jack Ellis and Eileen C. Ang
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