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    HomeUpdatesAfrican Climate Fintech MPower Ventures Secures $2.7m to Expand Solutions in Africa

    African Climate Fintech MPower Ventures Secures $2.7m to Expand Solutions in Africa

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    Climate fintech MPower Ventures AG has raised $2.7 million in a funding round backed by the Foundation for Clean Energy and Energy Inclusion for Africa (CEI Africa), along with crowdfunding platforms Klimja and Republic. The capital injection, structured as a mix of equity and subordinated debt, is intended to support MPower’s expansion in West and Southern Africa, where it provides small and medium-scale solar energy solutions.

    CEI Africa has committed €1.1 million ($1.2 million) to MPower, marking its first co-investment alongside crowdfunding platforms. The investment forms part of MPower’s crowdfunding campaign, which has closed €795,000 ($860,000) on Klimja and €1.7 million ($1.85 million) on Republic, including contributions from angel investors. The funding will facilitate MPower’s efforts to scale its distributor network, diversify its product offerings, and expand financing solutions to increase access to clean energy.

    Founded in 2017 by Manuel Seiffe, Greg Nau, Michael Eschmann, MPower operates a business-to-business (B2B) model that integrates hardware, software, and financing to distribute solar products across Africa. The company targets markets with unreliable or non-existent electricity grids, offering solar systems for households, small businesses, and agribusinesses. MPower’s portfolio includes four core business segments:

    • Small solar home systems
    • Backup power solutions
    • Small-scale commercial and industrial (C&I) solar projects
    • Productive-use equipment and e-mobility solutions

    By combining financing with distribution, MPower enables solar installers, distributors, and corporate clients to procure and deploy solar solutions more efficiently. To date, the company has sold over 50,000 solar products across seven African markets: Zambia, Cameroon, Togo, Ghana, Namibia, Botswana, and Zimbabwe.

    MPower’s CEO and co-founder, Manuel Seiffe, emphasized the role of financial innovation in addressing energy poverty: “At MPower, we believe that solar energy, combined with accessible financing, is one of the most effective tools to drive economic growth in Sub-Saharan Africa. CEI Africa’s investment, along with crowdfunding support, will accelerate our mission to deliver clean and affordable energy solutions.”

    CEI Africa, which was established by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development in 2021, aims to bridge financing gaps in rural electrification projects. Steven Evers, a member of CEI Africa’s executive board, highlighted MPower’s impact: “This investment will enable MPower to scale its efforts and bring off-grid solar solutions to more underserved communities in Africa.”

    MPower’s business model is designed to streamline operations for distributors while making solar products more affordable for end-users. The company’s in-house software enhances supply chain efficiencies by automating customer relationship management (CRM) and optimizing inventory logistics. This technology-driven approach reduces operational costs, enabling MPower to scale sustainably.

    The company has received financial backing from institutional investors, impact funds, and international development agencies, including South Pole, InnoEnergy, the Swiss Capacity Building Facility, and UK Aid. Additionally, MPower has been recognized by global organizations such as the Solar Impulse Foundation and the Climate-KIC Accelerator for its contribution to climate-friendly innovation.

    With fresh funding in place, MPower Ventures is now poised to strengthen its presence in Africa’s solar market, expanding access to reliable and sustainable energy for communities that need it most.

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