News
Yellow raises undisclosed Series C led by Convergence Partners
Solar home system and device financier Yellow has closed a Series C led by Convergence Partners, with the amount undisclosed, to expand across its key markets.
By Propel Africa · 2026-08-25
Yellow Africa has closed a Series C funding round led by Convergence Partners. Disrupt Africa reported on 25 August. The amount was not disclosed. Convergence Partners also led Yellow's $14 million Series B in 2023.
What Yellow does
Yellow provides financing for solar home systems and digital devices such as smartphones. It targets low income rural households and uses AI enabled credit scoring to assess customers. The company was founded in 2018 by Mike Heyink and Maya Stewart, and Heyink is its CEO. It is described as South Africa based.
Reach and traction
Yellow has served more than one million customers and has over 200 staff. It operates in Malawi, Zambia, Uganda, Rwanda, Madagascar, the Democratic Republic of Congo and Nigeria. The company says it aims to serve 10 million customers with electricity and internet access by 2030.
Plans
The new funding will be used to expand in Yellow's key markets and broaden its customer base.
At a glance
- Company: Yellow Africa
- Raised: Not disclosed
- Round: Series C
- Investors: Convergence Partners
- Founded: 2018
- Based in: South Africa
- Markets: Malawi, Zambia, Uganda, Rwanda, Madagascar, DRC and Nigeria
- Key figure: More than one million customers served