In a strategic move that underscores the evolving role of fintech in driving sustainable impact, HealthCap Africa’s portfolio company, Rivy (formerly Payhippo), has rebranded and raised $4 million in a pre-Series A round to focus on clean energy financing.
Originally established as a micro-lender for small and medium-sized enterprises (SMEs), Rivy identified a critical challenge among its clientele—the lack of reliable and affordable energy. Recognizing this urgent need, the company transitioned to a dual marketplace model that connects over 250 solar vendors and installers with businesses seeking sustainable energy solutions. By offering asset financing, Rivy enables SMEs to spread the cost of solar systems over time, making clean energy adoption more accessible across Africa.
A Funding Boost for Africa’s Energy Transition
Rivy’s $4 million pre-Series A funding round reflects strong investor confidence in its mission. The round includes $2 million in equity, co-led by EchoVC and Shell’s All On, two leading investors focused on climate and energy solutions. The remaining $2 million in debt was provided by local debt financiers, further reinforcing the commitment to expanding access to clean energy financing.
HealthCap Africa: Investing Beyond Fintech to Drive Real Impact
At HealthCap Africa, we invest in fintech startups that do more than just disrupt traditional financial services—we back companies that solve real problems. Rivy’s evolution from SME lending to clean energy financing aligns with our vision of empowering businesses to drive economic growth while addressing Africa’s infrastructure gaps.
With Africa’s energy challenges hindering business productivity, fintech solutions like Rivy’s financing model play a crucial role in accelerating the continent’s clean energy transition. By financing solar adoption, Rivy is not just providing loans—it’s powering Africa’s future.
As proud investors, we’re excited to see Rivy lead the way in bridging the energy gap while creating economic opportunities. This is the kind of innovation we champion, and we look forward to seeing its impact scale across Africa.