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Payhippo Drops SME Lending, Rebrands as Rivy with $4M to Focus on Clean Energy Financing - Tech

Summary by techeconomy.ng

Nigerian fintech startup Payhippo has rebranded as Rivy, changing its focus entirely to clean energy financing after raising a $4 million pre-Series A round to drive its expansion. The funding, split evenly between $2 million in equity and $2 million in debt, comes as Rivy moves beyond traditional SME lending to tackle one of Africa’s major challenges—access to reliable and affordable energy. The equity round was co-led by EchoVC, through its $…

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AppsAfrica.com | African mobile and tech news - tech events in Africa

Payhippo Rebrands to Rivy, Raises US$4M in Pre-Series A Funding

Rivy, an AI-powered lender for Africa’s renewable energy sector, announced its rebrand from Payhippo and the successful closing of a US$4 million in pre-Series A funding round. This round comprises US$2 million in debt and US$2 million in equity, with backing from Africa climate – focused investors including All On and EchoVC Eco. This new funding will accelerate Rivy’s mission to enable widespread access to clean energy in Nigeria and beyond. S…

10 days ago

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technext24.com

Payhippo rebrands to Rivy, raises US$4M in pre-series A funding

Rivy, an AI-powered lender for Africa’s renewable energy sector, today announced its rebrand from Payhippo and the successful closing of a US$4 million pre-Series A funding. The round comprises US$2 million in debt and US$2 million in equity, with backing from Africa climate–focused investors: All On and EchoVC Eco. According to a statement shared with Technext, the funding will help accelerate Rivy’s mission to enable widespread access to clean…

10 days ago

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WeeTracker

Nigerian SME Lender Payhippo Rebrands As Rivy, Raises USD 4 M For Solar Financing

Nigerian fintech Payhippo has rebranded as Rivy and secured USD 4 M in pre-Series A funding to expand its clean energy financing solutions beyond Nigeria. The funding comprises USD 2 M in equity, co-led by EchoVC and Shell’s All On, and USD 2 M in debt from local lenders. Originally launched in 2019 as an SME lender, Rivy (formerly Payhippo) pivoted to clean energy financing in June 2023 after identifying electricity challenges as a key obstacle…

10 days ago

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thecondia.com

Payhippo rebrands to Rivy, secures $4M to fuel clean energy financing in Africa

Payhippo, a Nigerian fintech known for its SME lending, has rebranded to Rivy and secured $4 million in a pre-Series A funding round to focus on expanding clean energy financing across Africa. The capital injection will enable Rivy strengthen partnerships with renewable energy providers and develop the financial infrastructure needed to promote access to sustainable energy solutions. The funding, led by climate-focused investors All On and EchoV…

10 days ago

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techeconomy.ng

Payhippo Drops SME Lending, Rebrands as Rivy with $4M to Focus on Clean Energy Financing - Tech

10 days ago

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Techpoint.Africa

Payhippo pivots to energy financing, rebrands as Rivy after $4M raise

Payhippo has rebranded as Rivy and raised $4 million to support its pivot from SME lending to clean energy financing, tapping into Africa's growing climate tech sector.

10 days ago

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