Okapi Technologies, a climate fintech startup based in Malaysia that specializes in solar financing, announced the successful completion of its funding round and its official launch in the country, beginning with the residential solar market.
The co-founders of the local logistics unicorn Ninja Van, Lai Chang Wen, and Shaun Chong, participated in the round led by The Radical Fund, according to a statement from Okapi Technologies.
“Malaysia’s vibrant renewable energy ecosystem, stable regulatory frameworks, and forward-thinking government policies made it an easy decision for us to launch here as our first market in Southeast Asia,” said Zhern Yung, who spent seven years at Ninja Van, where he was last the Vice President of Corporate Development & Treasury running fundraising and strategic M&A initiatives.
“With this raise, we will continue developing innovative solutions to democratize access to affordable solar energy for all homeowners, while creating a new asset class underpinned by green, responsible, and secure income streams for environmental, social, and governance (ESG) investors globally,” he adds.
Lai Zhern Yung and Christopher Kwong, both Malaysians and former bankers and engineers, founded Okapi Technologies.
By providing a comprehensive embedded financing and project management solution, the company’s proprietary platform bridges the financing gap by linking clean energy investors with solar dealers, installers, and engineering, procurement, and construction (EPC) companies across the country.
By enabling solar stakeholders to provide cash flow positive leasing plans with ten-year terms to homeowners at the point of sale, the company accelerates sales cycles and boosts conversion rates. This is made possible by its instant credit decisioning engine.
This system removes all financial and psychological obstacles that prevent homes from obtaining cheaper utility rates, greatly lowering their carbon footprint and greenhouse gas emissions and assisting Malaysia in achieving Net Zero.
By developing a new, secure asset class that can provide steady returns over the long term, Okapi Technologies also gives financiers a special way to participate in the energy transition in the Southeast.
