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146%
Raised
£585,080
Investors
468
Target
£400,000

Convertible round

Rather than investing and immediately receiving shares, in this round payments will be transferred directly to the company and shares issued at a future date. A convertible allows a company to raise funds without having to agree a valuation. For more information please view our FAQs.

MPower revolutionises energy access in emerging markets by providing SME's and households with small-scale solar solutions. The climate fintech combines hardware, software and financing. Raising €3m to date, they've deployed 8500+ units through 11 distribution partners, across core markets in Africa

  • Operational in Zambia, Togo, Cameroon, Namibia and Ghana
  • Increased sales to €706k & EBITDA -€175k in 2020
  • Corporate deals with Barry Callebaut, MTN and UNESCO
  • Backed by Innoenergy, Techn. Fund., responsAbility and South Pole

Idea

In Sub-Saharan Africa, 600m people still lack access to electricity and many more are connected to unreliable grids. Simultaneously, prices for solar energy and storage have fallen by more than 80% since the 2000s. To unlock this market potential of USD 65 bn, we set up a B2B2C model, supplying our local distribution partners with high-quality solar products combined with financing solutions for our end-customers, who are off-grid or under-electrified households and SMEs.

Key to scale is our software platform: It digitizes our operations, tracking products and collecting payment, which results in data-driven decisions. By collecting valuable end users' data, we are able to develop credit profiles and rating schemes of our end users to mitigate default risk.

Thanks to our successful raise of €490k on Crowdcube in early 2020, we were able to realise projects and boost our sales.

- Increased total funds raised to €3m

- Grown to a team of 21 people & deployed 8500+ units in 8 countries

- Expanded into Ghana and Namibia

- Concluded deals with MTN (Africa’s largest telecom company) and UNESCO

- Secured strategic partnership with South Pole, a leading climate solutions provider

- Secured grant projects with the Austrian Development Agency, responsAbility and SCBF

To push MPower to the next level, we need you. Participate in this convertible round, and help us to expand to new markets!

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