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Nithio

Overview

About

Nithio is AI-enabled energy financing platform whose mission is to standardise credit risk assessments and therefore drive more capital into the renewable energy sector, including by investing directly and efficiently in off-grid solar companies. Nithio FI leverages credit risk assessments and cash flow forecasts data to inform its investment decisions, directing capital to scalable, sustainable solutions to Africa’s renewable energy access challenge.

Investment Details

Name

Nithio

Tagline

AI-driven platform providing financing for clean energy companies reaching low income households

Sector

Climate and digital finance

Location

Nigeria, Uganda, Kenya, Sub-Saharan Africa

In portfolio since

2021

Our role

  • FSDAi invested in Nithio FI’s innovative approach to unlock capital for renewable off-grid energy in Africa, for tiers 2 & 3 Pay-As-You-Go off-grid solar companies. These companies provide access to energy for households, smallholder farmers, and micro-entrepreneurs that are off-grid or struggle to meet energy costs.
  • Nithio FI currently provides receivables-backed financing to PAY-GO SHS in Nigeria, Uganda, and Kenya, with planned expansion beyond these three core markets in 2022
  • FSD Africa also extended a £310,000 grant facility to generate data support for Tier 2 and Tier 3 off-grid energy companies and to support operational improvements from the actionable insights that stem from the data collected.
 

Our investment

Committed capital: £3.56 million

Instrument: Junior Equity

* £3.36mn Grant of £0.3mn

Purpose and target market

FSDAi’s investment seeks to:
  • Deploy and develop at scale, a data-driven receivable financial solution that can set standards for risk/credit assessment in the Pay-As-You-Go off-grid sector.
  • Finance off-grid solar energy receivable and reduce the cost of capital for operators and consumers.
  • Capacity: Supported 21 tiers 2 & 3 companies in data generation, operational improvements & execution using the artificial intelligence geospatial technology.

Impact to date

32,445 Metric tons of CO2e emissions avoided

2,354 People with increased access to green productive assets

21Through the grant program, SHS Operators supported by Nithio with operational and execution improvements, as well as data generation

Investee contacts

655 15th Street, Suite 800, Washington, DC 20005, United States

nithio.com

info@nithio.com

FSD Africa contact

Riverside Green Suites (Palm Suite), Riverside Drive, Nairobi
FSDAi-info@fsdafrica.org

Updated: October, 2022