SunCulture Turns Farmer Repayments Into Fresh Capital With a $10m Securitisation
The Kenyan climate-tech company is going to the capital markets, not just venture investors, to fund growth.
WEVN Editorial
Editorial
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Image: SunCulture
Kenyan solar irrigation company SunCulture has closed a $10 million securitisation of receivables from its solar-powered irrigation systems. The capital comes from Mirova's Gigaton Fund through a dedicated special purpose vehicle, which buys receivables from SunCulture Kenya. Kaleidofin acts as portfolio monitoring agent.
SunCulture sells solar irrigation systems that farmers pay for in instalments. The structure lets the company recycle capital that would otherwise be tied up in customer receivables and put it into new installations. SunCulture says it has sold more than 85,000 solar irrigation systems and pumps since 2012, according to the company. The deal follows a $15 million receivables financing structure the company announced in September 2025, also according to the company.
"Access to irrigation in Kenya has never been limited by farmer demand. It has been limited by the lack of affordable, scalable solutions," said Samir Ibrahim, SunCulture's co-founder and CEO.
Sources: Launch Base Africa, 24 Sept 2026 · Ecofin Agency
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- #climate tech
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