Aquila facilitated the successful closure of a $2 million lending facility for Okapi Technologies, a climate fintech business in the solar financing area based in Malaysia.
In a statement on Wednesday, Okapi said that the money will help the company further its goal of using creative finance solutions to increase the use of solar energy by small businesses and homeowners in Malaysia and Southeast Asia.
The government’s attempts to transition to a more sustainable low-carbon economy are highlighted by the National Policy on Climate Change 2.0 and the planned increase in power rates in the company’s home market of Malaysia in the second half of the year.
“Despite significant cost reductions in small-scale solar installations over the past decade, high upfront investment requirements and supply chain inefficiencies still hinder idespread adoption in Southeast Asia.
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“Aquila’s strong collaboration and alignment with our vision will be invaluable as we continue to bridge the financing gap and accelerate the green transition in the region,” said Lai Zhern Yung, Chief Executive Officer and Co-Founder of Okapi.
The statement claims that Aquila and Okapi’s collaboration demonstrates a common dedication to transforming sustainable finance in developing nations by utilizing technology-enabled, data-driven financial solutions.
This investment demonstrates Aquila’s faith in Okapi Solar’s capacity to help small businesses and homeowners in the area with their financing needs.
“Okapi’s business model—enabling engineering, procurement, and construction (EPC) contractors to offer a leasing model for solar installations—is fueling rapid growth,” said Stefano Pellegrino, Chief Executive Officer of Aquila.
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“Since their expansion depends on their ability to finance EPCs, this partnership aligns perfectly with our financing strategy,
“Their focused approach to climate technology also enhances credit assessment efficiency, while API integration with solar installation data provides us with confidence in the value of deployed assets,” he added.
In Malaysia, the Philippines, and Indonesia, the company has 50 installer-partners and more than 200 solar power installations financed.
Okapi Solar, its flagship home solar leasing product, is revolutionizing the solar market with its smooth mobile point-of-sale application and distinctive underwriting methodology.
The company makes it possible for homeowners to obtain solar energy quickly and with no financial obstacle by enabling solar installer-partners to provide zero upfront financing programs for a maximum of 10 years.
Furthermore, Okapi just unveiled Okapi Flow, a supply chain financing system that uses secret data to finance solar installation partners’ inventories, shipping, and procurement.
This makes it possible for small enterprises in the solar industry to expand more quickly and get financial products more easily and effectively.
Aquila is a Malaysian, Indonesian, Singaporean, and Vietnamese company that facilitates sustainable financing driven by the internet of things (IoT).
Sustainable financing is made possible by the company’s technology, which links banks, borrowers, and verifiers.
By employing real-time internet of things (IOT) data infrastructure, it lowers the expenses and risk associated with verifying and monitoring environmental, social, and governance (ESG) key performance indicators (KPIs).
