Niko, founded in 2023, began by helping solar installers sell, plan and finance panels for homeowners and small commercial customers. The company is pivoting to build Mexico’s first virtual power plant (VPP) by aggregating and controlling home batteries, thermostats, EV chargers and other distributed energy resources. To build the VPP it has started selling battery storage to existing solar owners and is pursuing portfolio acquisitions to accelerate scale, targeting tens of megawatts of capacity at the outset. The number of projects Niko has serviced has grown about 20% month over month. It continues to finance installations and offers fee‑for‑service electricity contracts that can be canceled, at which point Niko uninstalls the panels. The company is also beginning to court larger corporate customers while maintaining its residential and small-business customer base. Niko is a Mexico City-based solar installation startup focused on residential and small commercial customers. The company sells and installs rooftop solar with a no-money-down offer, guaranteed utility-bill savings and a free removal policy if customers are unhappy. Niko currently underwrites customer financing in-house because few Mexican banks provide loans for small-scale solar. Its business model captures a portion of customers' utility-bill savings, similar to power purchase agreements, and the company says systems pay for themselves in about two years and customers own panels after seven years. Niko reports residential customers will save 20–40% on monthly bills and small commercial customers up to 20%; it plans to expand into home electrification projects such as batteries, EV chargers and water heaters.

Total raised

$26M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2025