Qotto designs and distributes standalone solar kits and lanterns to individuals living in the least electrified regions of Africa using a pay-to-own model. The company currently operates in Burkina Faso and Benin and plans to scale in those markets while entering Ivory Coast next month. Qotto and lead investor IBL are also drawing a roadmap to expand into East Africa by September. The business is expanding its product set to include financial services (micro-insurance, micro-credit and micro-savings) and internet access hotspots. Qotto says its revenue has grown 50% year-on-year and it had 11,000 active customers by the end of last year, with a plan to more than double that figure by year-end. The company describes its evolution into an all-rounded essential services operator backed by a proprietary technology stack and aligned with SDG impact goals.

Total raised

$8M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2023