🇳🇬 Lagos, Nigeria
Sahel Solar
Pay-as-you-go off-grid solar for rural households
EnergySeries BESG 94
Round size
$35M
Valuation
$220M
ARR
$28M
YoY growth
96%
Conviction
88
/ 100
88/100
Medium risk
Team
312
Founded
2018
Investment thesis
Why now
Electrifying 600M unconnected Africans with proprietary smart-meter PAYG hardware.
- 1.4M households powered
- <2% default rate on PAYG
- Carbon credit revenue stream live
Score breakdown
6-factor weighted model
Diligence checklist
- Founder references
- Cap table & legal review
- Customer calls (5+)
- Cohort & retention data
- Regulatory memo
- ESG audit
Comparable deals
No direct comparables in pipeline.