Nigeria’s Payhippo Rebrands as Rivy, Secures $4M for Energy Financing

Former SME loan provider Payhippo has rebranded to Rivy after securing $4 million in a pre-Series A round to focus on clean energy financing in Africa.

The funding – which was provided by venture capital partner EchoVC and energy major Shell’s investment company All On – includes $2 million in debt financing and $2 million in equity.

With aims to scale its operations and increase loan disbursements, the funding will allow Rivy to partner with renewable energy providers while expanding its services beyond Nigeria.