Yellow raises Series C led by Convergence Partners
What's the deal? Convergence PartnersDealroom has a profile for this one. Try Dealroom → has led a Series C funding round in Yellow, a fintech providing asset-backed credit for smartphones and off-grid solar products across sub-Saharan Africa. The amount was not disclosed.
Why now? The investment builds on Convergence Partners' existing relationship with Yellow and supports expansion across Malawi, Zambia, Uganda, Rwanda, Madagascar, the Democratic Republic of Congo and Nigeria. Yellow says it has served more than one million customers and employs more than 200 staff.
The signal: Yellow's model combines consumer finance with solar-energy and smartphone distribution, targeting households with limited access to electricity and digital connectivity.
Read more: Africa Global Funds
Image credit: DFID - UK Department for International Development
