Industry Newsroom

CRE Venture Capital and Omidyar Network Lead USD20 Million Series A Round for Rensource

Africa-focused venture capital firm CRE Venture Capital and global impact investor Omidyar Network have led a USD20 million Series A investment in Nigeria-based renewable energy solutions provider Rensource Energy. Other participants in the round include Inspired Evolution Investment Management, Proparco, EDP Renewables, Investisseurs & Partenaires, Sin Capital, and Yuzura Honda. Rensource builds and operates solar-powered micro-utilities that primarily serve small and medium-sized businesses. This fresh funding will be used to invest in technology infrastructure for online-to-offline services and build additional mini-grids across Nigeria.