The Netherlands is emerging as a prominent hub for investors looking to channel capital to achieve a measurable social and environmental impact, combining business with purpose.
According to a statement from BBOXX, this trend includes Dutch organisations such as DOEN Participaties, an impact investment fund supporting sustainable and social startups and Oikocredit, one of the world’s largest private investors in the microfinance sector.
They have channelled significant investments into BBOXX, a next-generation utility and helped the company to positively impact nearly one million people across 12 African countries through access to pay-as-you-go (PAYG) solar energy using mobile money solutions.
DOEN Participaties also recently invested in BBOXX’s latest $50 million funding round led by Mitsubishi Corporation, a global integrated business enterprise headquartered in Japan. The initial Dutch investment has enabled BBOXX to accelerate its mission to transform lives and unlock potential and was a key factor in securing investment from Mitsubishi Corporation.
The deal gained further global interest with additional investors from France (ENGIE Rassembleurs d’Energies), Luxembourg (Bamboo Capital Partners) and Canada (MacKinnon, Bennett & Company (MKB)), demonstrating how the global community is embracing sustainability and leveraging high growth companies as tools for development.
DOEN Participaties first became an equity investor in BBOXX in 2016, contributing to its $20 million Series C funding round. Earlier this year, Africa Infrastructure Investment Managers’ (AIIM) invested $31 million in BBOXX enabling them to expand operations in Rwanda, Kenya and the Democratic Republic of Congo (DRC).
Mansoor Hamayun, CEO and Co-founder, BBOXX, said: “The Netherlands is emerging as a hub for this crucial type of financing. Its progressive approach is due to the solid framework it has in place, helped by high public awareness, an active civil society and business-friendly policies. The country’s interest in cleaner, greener energy has caught the attention of major corporates and undoubtedly led to us receiving investment from Mitsubishi Corporation.”
“We look forward to our next phase of growth that will help us to transform more lives, unlock potential and grow our already global footprint by opening up new markets and develop further our product range.”
Katsuya Nakanishi, EVP and Group CEO, Power Solution Group, Mitsubishi Corporation, said: “Our investment into BBOXX, alongside investors from the Netherlands and other parts of the world, is the latest in our drive to realise a sustainable society. It is simultaneously the result of our strong alignment with BBOXX’s mission to use technology to expand access to modern utilities across the globe. We look forward to working with BBOXX to innovatively and sustainably deliver much-needed utilities to communities currently living without them.”
Michelle de Rijk, impact investment manager DOEN Participaties commented: “Millions of people still live without access to reliable energy or other essential modern utilities. To change this we started investing in BBOXX in 2016 and with our help, BBOXX has positively impacted nearly one million people to date by providing them access to affordable clean energy. We look forward to continuing our work together to close the energy access gap worldwide.”