Sun Exchange, a peer-to-peer solar leasing platform, today announced it’s launching a R7 million Uprise.Africa equity crowdfunding campaign, for approximately 5.2% equity stake in the company.
In a statement, the company says following a two-week private sale period, the Uprise.Africa campaign is now open to the public.
Sun Exchange claims it is the world’s first peer-to-peer solar leasing platform, enabling anyone, anywhere in the world, to own solar cells and build wealth by leasing those cells to power businesses and organisations in emerging markets.
Uprise.Africa is a South African equity crowdfunding platform, providing an innovative space for capital-raising and small business investment. The platform is disrupting the traditional funding landscape by providing an alternative method for small businesses to raise capital, making the funding landscape more accessible to both entrepreneurs and investors.
“We’re thrilled to partner with Uprise.Africa to create an opportunity for anyone to invest in Sun Exchange, own part of one of the most disruptive companies across the African continent, and benefit from our continued growth and success,” says Abraham Cambridge, CEO and founder of Sun Exchange.
“Decentralisation, democratisation and profits with purpose are core values for Sun Exchange. We believe in the power of the crowd and people’s ability to unite to create lasting positive social and environmental impacts, while also earning solid financial returns. This equity crowdfunding campaign epitomises those values.”
Since launching in 2015, Sun Exchange has built a community of more than 8 000 Sun Exchange members across approximately 140 countries and brought solar power to 13 South African schools, businesses and organisations, offsetting 1 500 tonnes of carbon per year, and growing.
“Uprise.Africa supports organisations that demonstrate it’s possible to run a successful business while creating significant positive social and environmental impacts,” says Patrick Schofield, co-founder of Uprise.Africa.
“Sun Exchange is an African success story on the fast-track to revolutionising energy and finance and we are delighted to be part of that journey.”
The Sun Exchange Uprise.Africa equity crowdfunding campaign is part of a $3 million (R45 million) seed funding round, of which Sun Exchange has raised approximately $800 000 (R12 million) to date from global investors, including $500 000 (R7.6 million) from the multimillion-dollar hedge fund, Alphabit Fund.
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