Babyloan, a European leader in crowdfunding*, and Total have teamed up to develop the first crowdfunding platform dedicated to access to energy. The partners are aiming to accelerate access to energy and related financing solutions, particularly in Africa, Asia and Latin America, where the need is greatest.
Worldwide, 1.3 billion people do not have access to electricity and 2.7 billion do not have access to clean cooking options1. While effective solutions exist, they are hard to access or unaffordable for people living in rural or near-urban areas, who spend a large portion of their inadequate income on sources of energy unsatisfactory for the environment2.
By creating a crowdfunding platform dedicated to access to energy, Babyloan and Total are combining their respective expertise — in crowdfunding and microcredit for Babyloan and in access to energy projects for Total, through its Awango by Total lineup of high-quality solar lamps mainly distributed in Africa. The collaboration will support the creation of local microbusinesses that will develop distribution networks to cover the last mile to reach isolated communities.