The Singapore-based Clime Capital and the Vietnam-based Touchstone Partners announced on May 24 a joint investment into Stride, an innovative cleantech company in Vietnam.
Its mission is to boost 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. Joshua Kramer, Chief Investment Officer at Clime Capital, said the investment will support Stride’s growth at a critical stage of its development to set it on an accelerated pathway to scale its delivery of clean energy solutions. “Stride’s efforts to provide quality assurance and financing to residential and small business customers reduce barriers to adoption of rooftop solar and other clean energy solutions, enabling its customers to save money while reducing their carbon footprint,” he said.
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, said Ms. Tu Ngo, General Partner at Touchstone Partners. “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,” she added.
“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,” said Mr. Andrew Fairthorne, CEO of Stride.
Based in Ho Chi Minh City, Stride helps residential and small business consumers take the next step towards a clean energy future with an affordable, transparent, and simple way to pay for eco-friendly home improvement projects and solar installations at the point of sale with 0 per cent interest.
In the last two years, Stride has experienced rapid growth as the first company in Vietnam to offer low, upfront-cost financing, complimentary insurance, independent quality assurance, and a streamlined online consumer onboarding process.
It has received increasing interest from residential and small business consumers who want to shift to lower-cost clean energy to reduce energy costs. Stride addresses this interest with a commercial solution that removes the barrier to high up-front costs.