Nigerian Fintech Rivy Secures $4 Million to Power Africa’s Clean Energy

Rivy (formerly Payhippo), a Nigeria-based fintech focused on accelerating access to clean energy across Africa, has secured $4 million in pre-Series A funding to expand its platform and operations.

The company, founded in 2021, combines financial technology and climate solutions to help individuals and small businesses access clean energy products such as solar home systems and clean cookstoves. Through its platform, customers can access flexible, pay-as-you-go financing to overcome the upfront costs that often limit the adoption of sustainable energy solutions.

The funding round was backed by a mix of institutional investors and angel backers with experience in climate tech, inclusive finance, and African markets. According to the company, the capital will be used to improve its technology infrastructure, grow its presence in key markets including Nigeria, Ghana, and Kenya, and deepen partnerships with energy providers and local financial institutions.

Rivy’s platform is designed to serve underserved and off-grid communities where energy access and financial inclusion are limited. The company leverages alternative data and digital credit scoring to underwrite customers who may not have access to traditional banking services.

The investment comes amid growing interest in technology-driven solutions that address both climate and financial challenges in emerging markets. More than 600 million people in sub-Saharan Africa lack access to electricity, according to the International Energy Agency, and traditional lending models have struggled to scale clean energy adoption in low-income areas.

Rivy said it plans to raise a full Series A round within the next 12 to 18 months to support further expansion.

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