What is Baobab+?
Baobab+ specializes in offering Pay-As-You-Go (PAYG) solar kits, a model that empowers customers in underserved regions to acquire essential solar power solutions. By enabling remote control over products, Baobab+ allows customers to make payments over time until the kit is fully paid off. This innovative approach not only facilitates access to clean energy but also fosters financial inclusion by making solar technology more attainable for a broader population. The company's operations are centered in Paris, France, with a clear mission to bridge the energy gap.
How much funding has Baobab+ raised?
Baobab+ has raised a total of $11.6M across 1 funding round:
Other Financing Round
$11.6M
Other Financing Round (2021): $11.6M with participation from Norfund
Key Investors in Baobab+
Norfund
Norfund is the Norwegian Investment Fund for Developing Countries, focused on creating jobs and improving lives through investments in renewable energy, financial inclusion, scalable enterprises, and green infrastructure. The fund primarily targets 30 core investment countries in Sub-Saharan Africa, as well as selected countries in Asia and Latin America, while also supporting sustainable business development in Ukraine. Norfund acts as a minority financial investor, partnering with entrepreneurs and industrial investors who share its values and goals. In 2024, Norfund's portfolio companies created over 41,000 jobs and provided electricity access to 750,000 households.
What's next for Baobab+?
With a major enterprise-level funding context and a recent strategic investment, Baobab+ is poised for significant expansion. This capital will likely fuel advancements in their PAYG technology, broaden their market reach into new territories, and enhance their operational capacity to meet growing demand. The strategic nature of the recent financing suggests a focus on scaling operations and solidifying market leadership in the off-grid solar sector, potentially through new partnerships or technological innovations. The company's trajectory indicates a strong commitment to sustainable growth and impact.
See full Baobab+ company page
