Californian peer-to-peer solar equipment leasing platform Sun Exchange has raised $1.6m in funding from investors including Techstars, Network Society Ventures and South African outfit Kalon Venture Partners. Sun Exchange uses blockchain and digital currency bitcoin to enable customers to purchase solar cells from its platform and lease them to installations in developing countries. The company, which is mainly active in the African energy market and has now expanded with headquarters in the U.S. in California, and a regional operating office in Dubai, which gives retail customers around the world the opportunity to lease solar cells bought on their own platform to medium to larger scale solar installation in developing countries. The company is also working with the World Bank Group as part of a pilot project that will see it use blockchain technology for microfinance loans in Kenya.
Californian peer-to-peer solar equipment leasing platform Sun Exchange has raised $1.6m in funding from investors including Techstars, Network Society Ventures and South African outfit Kalon Venture Partners. Sun Exchange uses blockchain and digital currency bitcoin to enable customers to purchase solar cells from its platform and lease them to installations in developing countries. The company is also working with the World Bank Group as part of a pilot project that will see it use blockchain technology for microfinance loans in Kenya.