Funding
Nithio Launches $150 Million Senior Secured Debt Fund for African E-Mobility
By News Desk ·
Key takeaways
- Nithio launched the $150 million Fund for Utility and E-mobility Lending, or FUEL, for commercial electric mobility and supporting infrastructure across Sub-Saharan Africa.
- FUEL will lend $2 million to $15 million per borrower, backed by hard assets and cash flows, and Nithio targets a $100 million first close in 2027.
- Nithio has deployed approximately $55 million to 18 borrowers through FAIR, its open-ended blended finance vehicle for household energy access.
Nithio Holdings launched a $150 million senior secured debt fund for commercial electric mobility and supporting infrastructure across Sub-Saharan Africa, the company said. Startup Researcher reported the launch. The vehicle, the Fund for Utility and E-mobility Lending (FUEL), will lend $2 million to $15 million per borrower, backed by hard assets and cash flows.
How Nithio's FUEL Fund Will Lend
Nithio has deployed approximately $55 million to 18 borrowers through FAIR, its open-ended blended finance vehicle focused on household energy access. Recent electric mobility investments through FAIR, including in West African e-mobility platform MAX, convinced the firm that a dedicated debt fund was required. FUEL will target fleet operators, fleet finance providers, charging and battery-swapping operators, original equipment manufacturers, and related services.
Nithio's pitch rests on risk analytics built on more than 100 million payment records across 19 Sub-Saharan African markets, data originally used to standardize credit assessment in pay-as-you-go solar. The company argues that granular repayment data can reduce perceived technology and credit risk. Interest rates for EV finance in Africa range from 14% to 28%, and penetration remains in the low single digits of new vehicle financing.
Development finance institutions including Afreximbank and the IFC have become active lenders to the sector. IFC Venture Capital Group invested $30 million in dr.consulta, a Brazil-based healthtech, to support expansion from 32 to 80 units and into regions beyond São Paulo and Rio de Janeiro, LAVCA reported on October 8, 2026.
Nithio's Funding and Portfolio Record
According to akta.pro company records, Nithio's FAIR vehicle manages $47.1 million in assets and has deployed over 148,000 systems through its portfolio companies across 20 markets in Sub-Saharan Africa. The records list eight funding rounds, including a $10 million debt round led by FMO in January 2024, a $2.8 million debt round in July 2022, a round led by Shell Foundation in January 2022, and a $4.5 million round led by FSD Africa in June 2021. Total funding stands at $58.3 million.
| Funding round | Amount | Lead investor |
|---|---|---|
| January 2024 | $10 million | FMO |
| July 2022 | $2.8 million | Not stated |
| January 2022 | Not stated | Shell Foundation |
| June 2021 | $4.5 million | FSD Africa |
Debt Deals Elsewhere in October 2026
Ares Management provided $2 billion of a $6.5 billion multi-jurisdiction financing for Phoenix Tower International, funding about $1.8 billion at closing, Pulse 2.0 reported on October 11, 2026. Anthropic is offering Blackstone a yield of over 10% to finance its latest chip deal, with Blackstone funds investing $9 billion in debt backed by Anthropic's five-year lease payments on the chips, according to a Financial Times report cited by Channel NewsAsia on October 17, 2026. Apollo Global Management is exploring expanded financing for governments and state-backed firms, with Europe as a key focus, Privateequitywire reported on October 7, 2026.
Nithio's 2027 First Close Target
Nithio is targeting a $100 million first close in 2027 toward the overall $150 million target. The World Bank is developing a proposed $250 million blended-finance equity fund for commercially proven e-mobility business models in Africa.