ESEYE RECEIVES Q3 INVESTMENT FROM ACCION FRONTIER INVESTMENTS GROUP
Guildford, UK, 6th October 2014.
Eseye are delighted to confirm that the company has recently received investment into the business from Accion Frontier Investment Group, a pioneer and leader in bringing financial services to the underserved, with a participating investment in our $9.0 million Series B financing round.
It was Eseye’s work to enable off-the-grid energy solutions for the underserved through our managed connectivity and M2M platform that spurred Accion’s interested in the company. Eseye is partnered with M-KOPA, a mobile technology company based in Nairobi, Kenya, to deliver solar-powered lighting and mobile charging to rural Kenyans on a pay-as-you-go basis, with payments facilitated by M-PESA’s mobile wallet. As a partner to M-KOPA, Eseye has been providing development consultancy for products and payment solutions for a number of years along with managed connectivity and application services.
“It’s great to work on innovative products that make a real difference to people’s lives and this investment from Accion will help further Eseye’s ability to enable these types of M2M solutions. We are thrilled to work with Accion’s Frontier Investments Group, given their experience in accelerating new technologies that help expand access to financial services.” Julian Hardy – CEO, Eseye
Jonathan Whittle, Managing Director of Frontier, stated in September: “Eseye’s M2M solutions are enabling exciting new pay-as-you-go asset financing and prepaid models that give those in emerging markets access to critical, life-enhancing goods and services previously unavailable.” Whittle has joined Eseye’s board of directors as part of the transaction.
Eseye’s work to enable green energy and serve a variety of communities in off-grid and developing countries continues with a number of other application areas not excluding continued support for M-KOPAs expansion plans as well as temperature monitoring solutions for NGO environments across Africa and other emerging economies. The company will make further announcements related to these particular activities.
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For more information or to arrange an interview contact Eseye’s press team on +44 (0)1483 685154 or email email@example.com.
About Accion’s Frontier Investments Group
Frontier is a venture equity initiative that invests in companies with disruptive models that enhance the efficiency, reach and scope of financial products and services for those underserved in emerging markets. Frontier is part of Accion, a pioneer and global leader in financial inclusion with five decades of experience in emerging markets – including feet-on-the-ground and institutional relationships on four continents and a deep bench of industry specialists. Additional information is available atwww.accion.org/frontier.
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