Angaza raises $10.5 million in series B funding
The Pay-As-You-Go energy provider, Angaza, has closed $10.5 million in series B funding. The round was led by Emerson Elemental and included investments from Rethink Impact, Salesforce Ventures, Social Capital and the Stanford StartX Fund.
Angaza is a for-profit social enterprise based in San Francisco and Nairobi. They provide an affordable micropayment solution allowing solar device manufacturers and distributors worldwide to sell their devices to off-grid consumers in emerging markets. Solar devices embedding Angaza’s proprietary technology can monitor energy delivered and remotely activate or deactivate energy delivery according to end-users' payments.
Angaza became an Orange Fab Fellow in 2014 where they further developed their product and broadened their network of distributors. Moreover, Orange’s leadership in mobile payment in Africa was a technological catalyst to Angaza’s business.
On working with Orange Fab, Angaza’s CEO Lesley Marincola commented:
“Angaza is a proud Orange Fab Fellow. Collaboration with telecoms, including Orange, is an integral part of Angaza's strategy, as these partnerships enable distributors to collect recurring solar payments via mobile money rather than manual cash collection."
We are so thrilled by Angaza’s success and proud to have worked with Lesley and her amazing team during their time at Orange Fab. Keep crushing it, guys!