Nithio’s Investment and Impact
Nithio is excited to continue its partnership with Winock, a solar productive use appliance company, with a second loan. This most-recent loan enables Winock to finance receivables from rooftop solar systems, solar efficient equipment, and appliances to micro-businesses in Nigeria.
“Nithio is excited to continue its support of Winock, a company that provides micro-businesses with a financially and environmentally sustainable energy source, as they continue to expand the solar productive use appliances across Nigeria.”
-Kate Steel, Nithio CEO
Nithio provided its first loan to Winock in 2020, which positioned the company to scale at a critical juncture and attracted additional financing from investors such as Acumen and Charm Impact.
“Nithio has played a significant role in enabling Winock to scale our delivery of energy access products. We are excited to be partnering with Nithio again to expand our operations in Nigeria.”
-Sanmi Lajuwomi, Winock CEO
Winock’s Innovation and Growth in Nigeria
Winock scales energy access by offering home and productive use appliances, including solar rooftop systems, solar efficient sewing machines, weaving machines, and freezers, multi phone chargers, radios, torches, shavers, fans, laptop chargers, fridges, water pumps, and other products. By serving a key gap in the market by working directly with Nigerian micro-business, Winock is able to:
- Offer buy now, pay later services, which saves their customers at least 40% on electricity costs, provides productive use equipment at an affordable rate, and supplies working capital to micro-businesses at below-average interest rates.
- Offer high-capacity systems that provide enough energy for up to 15 hours a day and allows businesses to save up to 68% in energy costs by replacing their petrol generators.
- Focus on their solar product sales growth and establish and grow their presence in all Nigerian provinces.
About Nithio
Nithio is an AI-driven platform for clean energy investment. The company has standardized credit risk assessments to catalyze billions of dollars of capital into solutions that address climate change and help achieve universal energy access. Nithio does so by lending directly to the off-grid solar sector as well as supporting other investors to scale their investments by better understanding consumer credit risk. Learn more at www.nithio.com.
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