Qotto, a clean-tech company focused on distributing and operating solar home systems across Africa, has successfully concluded an $8 million Series A equity-debt funding round. This significant investment was led by the Mauritius-based IBL group, with additional contributions from the Off-Grid Energy Access Fund (FEI-OGEF), Cordaid, and Qotto’s existing investors. The France-based company, currently active in Benin and Burkina Faso, has revealed plans to expand its market operations into Cote d’Ivoire as early as next month.

Beyond its primary solar energy solutions, Qotto aims to transform into a comprehensive civic amenities operator. This strategic evolution includes the introduction of new products tailored to meet various customer requirements. Specifically, Qotto intends to launch financial services, including micro-insurance, micro-credit, and micro-savings products. These financial offerings will be developed through collaborations with partners such as SUNU, a prominent insurer in West Africa. Furthermore, Qotto plans to establish internet access hotspots, thereby enhancing connectivity in underserved regions.

Jean-Baptiste Lenoir, co-founder and president of Qotto, provided insights into the company’s expansion rationale for Ivory Coast. He highlighted the country’s consistent development pace within the broader West Africa region and Qotto’s readiness for market entry, having thoroughly tested and optimized its operations and services in Benin and Burkina Faso. Lenoir also noted strong customer interest, with individuals who have experienced Qotto’s products expressing a clear need and desire for the company to enter the Ivory Coast market. The expansion will also involve a partnership with IBL, aimed at strengthening IBL’s position in East Africa and increasing its exposure to renewable energies. Lenoir emphasized the substantial opportunity this collaboration presents for “essential services and large Solar Home Systems offerings provided by Qotto.”

Qotto is addressing critical challenges in sub-Saharan Africa, where approximately 650 million people lack access to electricity, 550 million are without internet access, and 800 million do not have access to financial services. Many of these populations experience overlapping needs for off-grid solutions, connectivity, and financial services. Renewable energy solutions are playing a vital role in bridging the energy access gap, particularly in the least electrified nations such as South Sudan, Burundi, Chad, Malawi, Burkina Faso, Madagascar, and Tanzania, all situated in sub-Saharan Africa and collectively home to 75% of the world’s population without electricity access.

Founded in France in 2016, Qotto began its operations in Benin, where local teams conduct daily visits to rural areas to engage with villagers, identify new customers, and install solar home systems. Since its inception, Qotto has consistently provided solar-powered energy solutions across West Africa. The company has demonstrated robust growth, with its revenue advancing by 50% year-on-year and serving over 11,000 active customers by the end of last year. Building on this growth trajectory and its expansion plans, Qotto anticipates doubling its customer base by the close of the current year.