MPower, a fintech and impact start-up, provides access to clean energy in emerging markets by combining financing, plug & play solar products and its software & data solutions. Based on a B2B model, MPower has reached over 2000 end-users and generates both positive impact and financial profitability.
Emerging markets are home to some of the world’s fastest-growing economies, yet the majority still suffer from significant under-electrification. Simultaneously, prices for solar energy and storage solutions are falling. This convergence is a window of opportunity with a global market size of over $65 billion.
To unlock the market potential, we set-up a B2B model that combines the local distribution networks and market knowledge of our partners with our expertise.
1. High-quality solar products (hardware)
2. Innovative financing models
Our software has several core functions: to digitise our partners’ operations and track products enabling data-driven decisions, to collect end-user data for financing and cross-selling opportunities, and to allow us to develop credit profiles and rating schemes of our end-users allowing us to mitigate default risks.
We are targeting households, SMEs and rural populations with the aim to generate quantifiable social and environmental impact in a financially sustainable manner! Our revenues are driven by hardware sales and will be complemented by financing and SaaS.
We launched operations August 2018 and are now active in 3 markets, have supplied 2000+ solar systems, grew to a team of 17 FTEs and raised EUR 2m+ in equity and working capital.
To push the model to the next level and expand to new markets, we need you!