What is Baobab+?
Baobab+ specializes in offering Pay-As-You-Go (PAYG) solar kits, a model that empowers customers in remote regions by allowing them to control products remotely and make payments over time until the full cost is settled. This approach democratizes access to solar energy, particularly for off-grid households and small businesses. The company's operations are based in Paris, France, positioning it within a key European hub for technological innovation and sustainable development initiatives. Baobab+'s business model is designed to foster financial inclusion and improve living standards by providing reliable and affordable energy solutions.
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+?
The recent major strategic investment signals a pivotal growth phase for Baobab+. With this substantial backing, the company is poised to accelerate its expansion efforts, likely focusing on scaling its operations to reach a wider customer base and enhance its product offerings. Strategic partnerships and further technological development are anticipated as Baobab+ aims to solidify its market position in the renewable energy sector, particularly within emerging markets. The company's trajectory suggests a strong focus on sustainable growth and deepening its impact on energy accessibility.
See full Baobab+ company page
