Clime Capital and Touchstone Partners have recently announced backing of $2 million in a seed round for the Vietnam-based solar cleantech platform Stride.
The investment will promote Stride’s mission to accelerate Vietnam’s low-carbon transition by providing households and small businesses with eco-friendly home improvement projects, smart home technology, energy-efficient products, and access to solar energy.
Mr. Andrew Fairthorne, CEO of Stride, said it 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,” he said.
Having seen first-hand the tremendous focus and growth of green financing in the banking industry in the US and Australia, Stride’s founding team saw an opportunity to leverage their skills and bridge that gap in Vietnam. By utilizing their experience in finance and technology and through cooperating with solar construction companies, Stride built a completely unique digital platform that allows customers to obtain instant pre-approval to pay for solar installations in easy installments.
Mr. Joshua Kramer, Chief Investment Officer at Clime Capital, said its investment in Stride will support the company’s growth at a critical stage of its development to set Stride on an accelerated pathway to scale its delivery of clean energy solutions. “Stride’s effort to provide quality assurance and financing to residential and small business customers reduces barriers to the adoption of rooftop solar and other clean energy solutions, enabling its customers to save money while reducing their carbon footprint,” he said.
Ms. Ngo Thuy Tu Ngo, General Partner at Touchstone Partners, said it places priority on investing in promising startups that are developing solutions to help address climate change, and it is excited to partner with Stride and support their vision to facilitate Vietnam’s transition to a sustainable future.
“Vietnam’s recent approval of Power Development Plan 8, which encourages homes and businesses to install solar systems for self-consumption, makes Stride’s solutions all the more relevant and timely,” Ms. Ngo said. “By making green energy projects for households and small businesses more accessible and affordable, Stride is enabling more people to contribute to Vietnam reaching its goal of becoming carbon net neutral and, just as importantly, save money on their own electricity costs in the process.”
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