Rivy
ClimateTech | Nigeria
What they do:
Rivy is a climate finance company offering loans to enable Africa green energy transition. They offer 4 main products: Inventory finance for vendors, asset financing for homeowners, micro-grid financing for developers and carbon finance to help connect companies to the carbon markets.
Rivy operates a dual marketplace, connecting over 250 solar vendors and installers with businesses while offering loans to spread the cost of solar systems over time.
Why we invested:
n recent years, Nigeria has faced escalating challenges in its energy sector, significantly impacting businesses and households nationwide. In April 2024, the Nigerian Electricity Regulatory Commission (NERC) approved a substantial increase in electricity tariffs for Band A customers, raising rates from N68 to N225 per kilowatt-hour—a 300% hike.
Recognizing these challenges, Rivy, originally focused on SME financing, has strategically pivoted to clean energy financing leveraging on its strong underwriting Engine.
The Founder:
Dami Olawoye is the Co-Founder and CEO of Rivy
Active in:
Nigeria