Stride secures $2 Million in seed funding

Stride's mission is to expedite Vietnam's transition to a low-carbon economy by providing households and small businesses with eco-friendly solar energy solutions through accessible home-improvement projects that utilise smart-home technology and energy-efficient products.

The cleantech firm empowers residential and small business consumers to embrace a clean energy future through an affordable, transparent, and straightforward payment system. Customers can conveniently finance eco-friendly home improvements and solar installations at the point of sale with zero interest.

In the past two years, Stride has experienced remarkable growth in Vietnam as a pioneer in offering low-cost financing, complimentary insurance, independent quality assurance, and a seamless online consumer onboarding process. The company has witnessed a surge in interest from individuals and businesses eager to adopt affordable clean energy solutions and reduce energy costs. Stride tackles this demand head-on with a commercial solution that eliminates the barrier of high, upfront expenses.

According to Tu Ngo, general partner at Touchstone Partners, the recent government approval of Power Development Plan VIII, which encourages the installation of solar systems for residential use, further validates the relevance and timeliness of Stride's solutions.

By making eco-friendly energy projects more accessible and affordable for households and small businesses, Stride empowers individuals to contribute to Vietnam's goal of achieving carbon neutrality while simultaneously reducing their own electricity costs.

Andrew Fairthorne, CEO at Stride, said, “Stride is excited to partner with Clime Capital and Touchstone Partners to support Vietnam’s low carbon transition. The investment enables Stride to accelerate its deployment of clean energy solutions to more households and small businesses across Vietnam, thus reducing their energy expenses and assisting Vietnam in achieving its net-zero targets.”

Joshua Kramer, chief investment officer at Clime Capital, said, “This investment in Stride will support the company’s growth at a critical stage of its development to set it on an accelerated pathway. Stride’s efforts to provide quality assurance and financing to residential and small business customers reduces barriers to adoption of rooftop solar and other clean energy solutions, enabling its customers to save money while reducing their carbon footprint.”

BCG Energy secures $31.5 million syndicated loan package BCG - SP Solar 1, a joint venture between SP Group (Singapore) and BCG Energy (Vietnam), has just secured a disbursement of $31.5 million in a total credit line of up to $50 million from a consortium of foreign financial institutions.

OCB secures $100 million loan from IFC to empower SMEs Vietnam's Orient Commercial Joint Stock Bank (OCB) has just secured a substantial loan of $100 million from the prestigious International Finance Corporation (IFC).