Payhippo rebrands to Rivy, secures $4M to fuel clean energy financing in Africa
- Rivy has secured $4 million in a pre-Series A funding round to focus on clean energy financing.
- The funding includes $2 million in debt and $2 million in equity from climate-focused investors All On and EchoVC Eco.
- Rivy's rebranding reflects a strategic shift from SME lending to clean energy financing initiated in 2023.
Rivy's transition to clean energy financing is a commendable move that addresses a pressing need in sub-Saharan Africa. By focusing on renewable energy, Rivy not only positions itself as a leader in a growing market but also contributes to sustainable development and economic growth in the region. This strategic pivot could serve as a model for other fintech companies looking to make a social impact while achieving business success.
