Odyssey Energy Solutions has raised $74 million in equity and debt to expand its renewable energy financing platform in emerging markets, particularly in Africa, where small solar developers struggle to access working capital for projects.
The financing comprises $27 million in equity and $47 million in debt, with the company planning to use the capital to expand its platform and increase financing for small and midsize engineering, procurement and construction companies and renewable energy installers.
New equity investors include Broadscale Group, FMO and Al Mada Ventures, alongside existing backers including Union Square Ventures, Equal Ventures, Abstract Ventures, Twelve Below, FJ Labs, MCJ and Transition Ventures.
The debt financing comes from British International Investment, BIO, the Facility for Energy Inclusion, represented by Cygnum Capital, and the Energy Entrepreneurs Growth Fund, represented by TripleJump. The latest financing brings Odyssey’s total capital raised to $94 million.
The funding comes as distributed renewable energy companies seek to expand solar, battery storage and other decentralised power systems in markets where traditional electricity infrastructure remains inadequate.
A key focus of Odyssey’s financing model is a part of the renewable energy value chain that conventional project finance often overlooks.
Small and midsize EPC companies and installers frequently have to purchase solar panels, batteries, inverters and other equipment before completing projects and receiving payments from customers.
That creates a working-capital gap that can prevent companies from taking on additional projects even when demand exists.
“Distributed energy financing has historically focused on post-construction capital—funding that flows once a project is built,” said Emily McAteer, co-founder and chief executive officer of Odyssey Energy Solutions.
“That has left a significant gap upstream, where thousands of small and medium EPCs and installers lack the working capital needed to procure equipment, complete construction, and unlock customer payments. Odyssey bridges this gap directly, providing companies with the equipment pricing and financing they need to accelerate project delivery.”
Odyssey’s platform currently connects more than 6,000 solar installers and EPC companies with financiers and equipment suppliers across more than 50 countries in Africa, Asia and Latin America.
The company says its platform has facilitated access to about $3.6 billion in capital for distributed energy projects and unlocked 1.5 gigawatts of projects to date.
The financing is particularly relevant to Africa, where decentralised renewable energy is expected to play a major role in expanding electricity access while reducing dependence on diesel generation and strengthening power supply for businesses.
Odyssey has previously targeted the financing gap in African markets. In 2023, the company signed an agreement in Nigeria providing up to $100 million to finance solar equipment purchases by local businesses.
The company’s procurement platform, launched in 2024, aggregates equipment purchases across its network of EPC companies, giving smaller businesses access to volume pricing and embedded supply-chain credit.
For African energy companies, however, access to capital remains a critical constraint.
Financing for developers and installers before construction can help businesses acquire equipment, finish projects, and generate revenue sooner without relying on post-construction funding.
Odyssey’s latest capital raise targets a financing bottleneck in the energy value chain, enabling smaller renewable energy companies to execute more projects and expand distributed power in underserved markets.
