Solar technology company Rivy introduces online marketplace for solar equipment, aiming to overcome initial financial hurdles
Rivy Transforms into a Comprehensive Clean Tech Marketplace
Rivy, formerly known as Payhippo, has made a significant shift in its operations, evolving from a clean energy financing startup into a full-fledged clean tech marketplace. This transformation was marked by the launch of its new platform, EnergyStack, in August 2025 [1].
EnergyStack is an online storefront in Nigeria that provides consumers, businesses, and installers with direct access to verified, original clean energy equipment such as solar panels, batteries, and inverters [1]. This move addresses critical challenges in Nigeria's clean energy market, including access to quality, affordable products and the issue of counterfeit solar equipment, which can undermine trust and safety.
The strategic shift of Rivy demonstrates a broader ambition to tackle supply chain and product assurance issues, thereby supporting Nigeria’s growing demand for solar energy driven by unreliable electricity and high fuel costs [1].
Rivy has been a pioneer in clean energy financing, building the financial infrastructure to make clean energy affordable and accessible. With EnergyStack, the startup aims to deepen its footprint in Nigeria and expand into new markets [1].
In 2024, Rivy disbursed $2 million in loans, growing its loan book by 15% monthly. The startup has also expanded to asset financing to help small businesses afford solar systems and installers purchase equipment in bulk [2]. Rivy's proprietary loan underwriting engine has helped maintain a non-performing loan ratio below 1% [2].
The shift to clean energy was backed by $4 million in funding, co-led by EchoVC and All-On, plus additional debt from local institutions [2]. Rivy now offers financing for consumer solar solutions, in addition to its previous focus on SMEs [3]. An upfront deposit of at least 30% is required to access financing from Rivy [3]. Interest rates for Rivy's loans start at 12% for three-month terms [3].
EnergyStack lists solar panels, batteries, inverters, and more, all sourced from trusted manufacturers and verified vendors [3]. Users can either pay upfront or apply for credit on EnergyStack [3]. Rivy tailors its loan packages based on each business's power needs, logistics, and installation costs [3].
By September 2024, clean energy startups in Africa had raised over $413 million, outpacing fintech as the top-funded sector [4]. Rivy features in the portfolios of top Nigerian venture capital funds focused on financial services and renewable energy, indicating ongoing investor confidence and support for its mission to simplify clean energy financing and access within Nigeria [2].
Rivy positions itself as a central player in Africa's energy transition as a clean energy lender [4]. The rebrand marked a full pivot from SME lending to clean energy, driven by rising demand for solar in underserved markets and the financing gaps faced by both users and installers [4].
Rivy is actively engaged with the community and markets itself on social media channels like @rivyhq and @energystackbyrivy to keep stakeholders updated [1][3]. As it expands, Rivy aims to reinforce consumer trust through verified equipment sales and continue supporting solar adoption efforts across Nigeria’s off-grid and unreliable power markets [1][2].
References: [1] Rivy. (2025). Press Release: Introducing EnergyStack - Nigeria's One-Stop Clean Energy Marketplace. Retrieved from https://www.rivy.com/press/introducing-energystack-nigerias-one-stop-clean-energy-marketplace
[2] TechCabal. (2025). Rivy Raises $4M to Fund Clean Energy Startups in Nigeria. Retrieved from https://techcabal.com/2025/08/30/rivy-raises-4m-to-fund-clean-energy-startups-in-nigeria/
[3] TechCrunch. (2025). Rivy Rebrands as EnergyStack, Launches Online Storefront for Clean Energy Products in Nigeria. Retrieved from https://techcrunch.com/2025/08/30/rivy-rebrands-as-energystack-launches-online-storefront-for-clean-energy-products-in-nigeria/
[4] Disrupt Africa. (2024). Clean Energy Startups Raise Over $413M in Africa in 2024. Retrieved from https://disrupt-africa.com/2024/09/clean-energy-startups-raise-over-413m-in-africa-in-2024/
- In its pursuit to tackle the challenges within Nigeria's clean energy market, Rivy, a pioneer in environmental-science-related finance, has launched EnergyStack, an online platform providing access to verified clean technology products such as solar panels, batteries, and inverters, thereby aiming to broaden its business scope.
- Given the growing demand for solar energy in Nigeria due to unreliable electricity and high fuel costs, Rivy, a comprehensive clean tech marketplace, aspires to expand its influence in Nigeria's environmental-science sector and enter new markets, bolstered by investments in finance and technology.
- With EnergyStack, Rivy, earlier known for its clean energy financing, offers consumers and businesses direct access to on-time payment options for clean technology equipment, enabling them to combat climate-change effects while addressing their financial needs.
