Solar provider M-Kopa has attracted private equity funds of Sh1 billion ($10 million) from FinDev Canada.
The latest funding round is being led by British firm CDC which has committed Sh708 million ($7 million) in additional investments. CDC has nominated Dave Easton to M-Kopa’s Board of Directors.
“I’m delighted that other investors like Canada’s new development finance institution are following our lead and investing long-term capital in the company,” said Nick O’Donohoe, CEO, CDC.
The funding round also includes investments by existing shareholders; Generation Investment Management and LGT Venture Philanthropy.