# PEGAfrica

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pegafrica

- Industry: Renewable Energy
- Headquarters: Accra, Ghana
- Website: www.pegafrica.com
- Total disclosed funding: $26M
- Latest round: Series C (Mar 20, 2019)
- Investors on record: 8

## About

Based in Accra, Ghana, PEGAfrica Limited focuses on providing renewable energy solutions, particularly off-grid solar energy products, to underserved markets across Africa.PEGAfrica Limited, founded in 2013, specializes in renewable energy solutions aimed at enhancing electricity access. The company underwent a significant change when it was acquired in April 2022 by Bboxx Ltd. as part of a Trade Sale deal valued at USD 200 mn. The firm has executed a total of 10 deals to date, with its latest funding round led by Bboxx Ltd. and involving prominent investors including ENGIE Group and Banque Populaire du Rwanda. PEGAfrica has raised a total of USD 5.00 mn in funding since its inception. The company is headquartered in Accra, Ghana.PEGAfrica primarily provides renewable energy solutions to underserved markets in Africa, focusing on off-grid solar energy products. Their core offerings include solar home systems and solar water pumps designed to enhance access to electricity and water in rural and semi-urban areas. The company aims to address energy poverty by enabling households and businesses to operate appliances, improve quality of life, and increase productivity through reliable energy access. PEGAfrica’s customer base includes individual households, small businesses, and agricultural users who benefit from affordable and sustainable energy solutions. The company operates in several countries across West and East Africa, including Ghana and Nigeria, striving to expand its footprint in the growing renewable energy market.PEGAfrica generates revenue through a combination of direct sales and financing options for its solar products. The company structures its transactions primarily through partnerships with local distributors and retail outlets, ensuring widespread access to its offerings. Customers have the option to purchase solar home systems outright or engage in financing plans that allow for staged payments. These models cater to a diverse client base, from individual consumers to larger enterprises. Specific pricing details for the products reflect the company’s commitment to affordability and accessibility, aligning with its mission to empower communities through sustainable energy.Following the acquisition by Bboxx Ltd., PEGAfrica plans to consolidate its position in clean energy solutions across Africa. The company aims to expand its market presence in key regions, particularly in West and East Africa, leveraging the recent funding to enhance product offerings and operational capacities. Although specific new products have not been detailed, the focus will remain on developing innovative renewable energy solutions to meet the growing demand in underserved markets. The company anticipates that recent investments will significantly bolster its growth strategy, strengthening its capabilities in delivering sustainable energy solutions.

## Funding rounds

- Series C, Mar 20, 2019, $5M — Aster Capital, Acumen, I&P, Blue Haven Initiative, Total Ventures, Renewable Energy Performance Platform
- Series B, Aug 31, 2017, $14M — Engie, Aster Capital, Acumen, I&P, Blue Haven Initiative, PCG Investments
- Series A, Jun 14, 2016, $4.3M — Aster Capital, I&P, Blue Haven Initiative
- Series A, Sep 25, 2015, $3.2M — I&P

## Investors

- I&P (https://capitalatlas.ai/funds/i-p) — Series A, Series B, Series C
- Aster Capital (https://capitalatlas.ai/funds/aster-capital) — Series A, Series B, Series C
- Blue Haven Initiative — Series A, Series B, Series C
- Engie — Series B
- Acumen (https://capitalatlas.ai/funds/acumen) — Series B, Series C
- PCG Investments — Series B
- Total Ventures (https://capitalatlas.ai/funds/total-ventures) — Series C
- Renewable Energy Performance Platform — Series C