The Sun Exchange equity crowdfunding campaign in partnership with Uprise.Africa, has officially closed with over R4.2 million ($287,000) invested by 288 individuals from across the world.
The campaign, which launched in September, attracted investment from South Africans totalling R2.5 million, 59% of the total raised, and by representing 70% of all investors.
In what can only be described as a truly global effort to support our mission, confirmed investments* were made by individuals from the United Kingdom, Nigeria, Germany, many parts of Europe, Kenya, Australia and even Brazil.
The largest investments were made by a Norwegian and two South Africans, with a total of R835,000 invested between them.
By buying equity in Sun Exchange, these individuals are now part of our world-wide movement that is working to transform the world’s energy economy, while enabling them to benefit.
They also will share our journey of expansion into the rest of the globe, where we look forward to broadening the social and environmental impacts of our work by solar powering more schools, clinics, retirement homes, and businesses across sub-Saharan Africa and other emerging markets.
The Uprise.Africa campaign formed part of our seed funding round. To date, with the success of this latest campaign, we’ve now raised over $1 million which includes a $500,000 (about R7 million) seed investment by Alphabit, a multi-million-dollar hedge fund.
In a company statement, Sun Exchange noted that while they did not achieve the R7 million goal set for the Uprise.Africa campaign, the fact that the campaign quickly reached the R3 million success milestone, signalled significant appetite from individual investors to own equity in Sun Exchange, a fast-growing, US-based company operating in South Africa.
This was borne out when we extended the campaign for another month and raised nearly R1 million more in just 30 days.
Watch this interesting recorded discussion with Sun Exchange Founder and CEO, Abe Cambridge: FinTech | Renewable Energy
*Shares will soon be issued to confirmed investors, pending KYC (Know Your Customer) checks and a prospectus review process