D.LIGHT DESIGN LTD
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
d.light Solar is a designer, distributor and financer of solar lighting products as well as solar home systems (SHS) servicing markets in Africa and India. The Company has sold over 20 million solar lanterns and over 300K SHS through the “pay as you go” (PAYGO) model.
What is our funding objective?
The aim is to improve d.Light’s understanding of affordability at acquisition of the customer and post-acquisition, thus ensuring mis-selling is limited, whilst ensuring the financial model of the company is sustainable and enables the company to accelerate the roll out of its products.
Why do we fund this investment?
The transaction fits FMO’s inclusive business strategy and green strategy while it also spurs economic development. d.light’s products serve the base of the pyramid and are considered inclusive. The products are solar powered and therefore contribute to the climate change mitigation. Furthermore, d.light’s product offering contributes to available lighting which is an enabler for education, reduces spending on kerosene and positively contributes to health.
More investments
| Date | Total FMO financing |
|---|---|
| 6/23/2022 | USD 3.75 MLN |
| 6/23/2022 | USD 1.25 MLN |
| 6/23/2022 | USD 5.00 MLN |
| 6/23/2022 | USD 5.00 MLN |
- Region
- Africa
- Country
- Africa
- Sector
- Energy
- Effective date
- 7/4/2019
- End date
- 10/8/2020
- Total FMO financing
- EUR 0.07 MLN
- Funding
- AEF-I