SA’s Blockchain Startup Sun Exchange Secures R7.3 Million In Seed Investment

The Sun Exchange has garnered much recognition among global blockchain, technology and sustainability leaders for its innovative approach to solar financ

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Abraham Cambridge, Founder & CEO, Sun Exchange
Abraham Cambridge, Founder & CEO, Sun Exchange

South Africa’s Sun Exchange – a global solar micro-leasing marketplace – has secured a $500,000 (R7.3 million) seed investment from Alphabit, a multi-million-dollar hedge fund.

The investment highlights Alphabit’s support of Sun Exchange’s vision of creating a thriving, inclusive and decentralized, global solar-powered economy.

“Alphabit invests in companies that solve real-world problems by applying blockchain and decentralization,” said Liam Robertson, CEO, Alphabit.

“Sun Exchange is a prime example, with technology that has potential to disrupt two of today’s most dysfunctional centralized global systems — energy and finance. I’m convinced this will be one of the best equity investments Alphabit has made to date.”

The Sun Exchange has garnered much recognition among global blockchain, technology and sustainability leaders for its innovative approach to solar finance.

Sun Exchange is a pioneer in the African energy market and is quickly gaining global recognition for its unique approach to enabling solar energy access.

The company recently announced it secured $1.6 million in seed financing from several strategic partners around the world including Network Society Ventures, Kalon Venture Partners, and three of the world’s leading technology accelerators, BoostVC, Techstars, and Powerhouse.

The company was also recently recognized for the second consecutive year as Top Bitcoin & Blockchain Company in Africa by Fintech Africa.

Earlier this year crypto power couple, Stacy Herbert and Max Keiser of Heisenberg Capital and the Keiser Report, joined the Sun Exchange advisory board.

In July, the Sun Exchange announced a partnership with Leonardo DiCaprio-backed Powerhive, aiming to leverage the Sun Exchange platform to deliver electricity for up to 175,000 people in Kenya currently living without power.

In May, the United Nations Development Program announced that it has partnered with Sun Exchange to pilot blockchain-based finance for solar in Moldova.

Sun Exchange Logo

“We are delighted to have the support of Alphabit’s team of blockchain industry visionaries, who share our core principles of leveraging decentralization to create a more sustainable and equitable world,” said Abraham Cambridge, CEO & Founder, Sun Exchange.

“Their investment will significantly accelerate our growth and progress towards our goal of solar powering the world through the crypto-economy.”

The Sun Exchange has facilitated funding for six fully operational solar projects in South Africa through our solar micro-leasing platform. The projects power organizations such as schools, small businesses, wildlife protection parks, and nonprofits.

The Sun Exchange is currently running a crowdsale for our seventh project, which will solar power Sacred Heart College in Johannesburg, a historic educational institution renowned for its social justice leadership.

By leveraging the borderless, decentralized nature of cryptocurrency, the blockchain startup enables practically anyone, anywhere in the world, to buy into its solar projects and receive a stream of monetized sunshine from the power generated by the secured a.

Through this model, the Sun Exchange has built a global community of over 14,000 registered members across 90 countries.

It also recently introduced SUNEX, our own digital rewards token, which can be earned to get discounts and bonus rental income on the Sun Exchange marketplace and can be staked into a ground-breaking solar project insurance fund.

The SUNEX Network Token is currently available for purchase through a public token sale event which will run through December 31, 2018. 

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