- Charm and signify have partnered to increase investment in clean energy companies.
- The funds will enable private sector investment in “riskier” projects.
- Charm recently raised £273,520 for companies in Africa.
British financing platform Charm Impact has signed a partnership with the Signify Foundation to accelerate investment in renewable energy solutions providers. As part of the partnership, “the Signify Foundation’s capital will be integrated alongside private investors, but in a subordinate position. In this way, the funds will encourage private investment in projects that are perceived to be riskier.”
Charm hopes that the partnership will provide the capital needed for the next phase of its lending roll-out in Africa. Co-founder Gavriel Landau states: “For energy access to really take off in the long term, we need to promote the growth of profitable, sustainable and local businesses. Charm is mission-driven and focused on creating a large-scale impact. This means we need to challenge traditional donation models to ensure they promote commercially viable and scalable outcomes.”
Charm provides funding for start-ups that provide clean electricity and cooking solutions. The company focuses on local entrepreneurs and companies that take a gender approach to solutions deployment. Charm has provided 10 loans to businesses in East and West Africa. Charm recently raised £273,520 (almost $356,000) to finance start-ups in sub-Saharan Africa.