Nithio Finance Inc.
Status: Approved 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
Nithio Finance Inc. (“Nithio”) is an Artificial Intelligence-enabled energy financing platform whose mission is to standardise credit risk assessments and therefore drive more capital into the renewable energy sector. It does so by investing directly into off-grid solar companies. Nithio manages Nithio FI BV, an open-end debt fund and FMO customer. The fund is operational since 2021 and finances energy access companies in Sub-Saharan Africa (primarily PAYGO solar). By using their machine-based learning tools to standardize credit risk assessment, it can finance smaller borrowers in an efficient manner.
What is our funding objective?
Through this project, Nithio and FMO partner to launch an innovative, data-driven Gender-Lens Financing window (or ‘gender tranche’) that incentivizes solar companies to reach more female customers.
Why do we fund this investment?
Through the development of this gender tranche, Nithio will be able to support more female end-consumers, increasing access to finance for women to invest in solar home systems and productive use appliances. This is fully in line with FMO’s and Nithio’s joint ambition to advance the SDG 5 Gender agenda, and to reach gender parity with having more women benefitting from solar products.
- Website customer/investment
- https://nithio.com/
- Region
- Africa
- Country
- Africa
- Sector
- Energy
- Publication date
- 8/20/2024
- Effective date
- 7/12/2024
- Total FMO financing
- EUR 0.14 MLN
- Funding
- AEF-I