Receivables securitisation · Agritech
SunCulture closes $10m solar-irrigation receivables financing
Mirova Gigaton Fund financing will help recycle capital into new farmer installations.
SunCulture, Mirova and Kaleidofin announced a $10 million securitisation on September 24, backed by customer payments for solar irrigation systems.
Mirova’s Gigaton Fund provides senior secured financing to a dedicated vehicle that buys receivables from SunCulture Kenya. This releases money otherwise tied up in long-term customer instalments, allowing SunCulture to finance more irrigation equipment.
SunCulture supplies solar pumps to smallholder farmers through its pay-as-you-grow model. Kaleidofin supported the transaction structure.
Use of funds
Expand farmer solar-irrigation financing
Funding history
Receivables securitisation · This round$10M