Nigerian AI-driven lending startup Rivy (formerly Payhippo) has secured $4 million in a pre-Series A funding round to accelerate its mission of financing Africa’s clean energy transition.
The round combines $2 million in debt and $2 million in equity, backed by climate-focused African investors such as All On and EchoVC Eco.
Founded in 2019 as Payhippo, the company rebranded to Rivy in 2023 after fully pivoting to renewable energy financing. Since then, it has disbursed over $2 million in clean energy loans across Africa.
Rivy’s platform leverages artificial intelligence to streamline lending processes, targeting SMEs and projects in solar energy, biogas, and other sustainable sectors.
The newly secured funds will drive geographic expansion, scale loan disbursements, and strengthen partnerships with renewable energy stakeholders to build the necessary financial infrastructure for making clean energy more accessible.
The new funding will accelerate Rivy’s mission to make clean energy widely accessible in Nigeria and beyond.
