Yellow
Yellow is a private off-grid solar distributor founded in 2018 and headquartered in Mauritius that delivers portable solar home systems and consumer financing to underserved rural households lacking grid electricity access, primarily in Malawi with expansion into Zambia.
- Company typePrivate
- Founded2018
- HeadquartersPort Louis, Mauritius
- Headcount101–250
- GTM typeB2C
- OfferingHardware or Manufacturing
What Yellow does
Yellow is a private off-grid solar distributor founded in 2018 and headquartered in Port Louis, Mauritius, that delivers life-changing energy products and services to rural African households lacking grid access. The company's core offering consists of portable solar home systems designed to provide electricity for lighting, mobile phone charging, and basic appliances to underserved populations, with its primary market in Malawi and confirmed expansion into Zambia. Yellow operates a direct-to-consumer distribution model, reaching end customers through a field-based sales and distribution network that targets the hardest-to-reach rural communities — populations that conventional energy utilities and larger solar competitors typically underserve.
The company has expanded beyond pure hardware distribution into solar financing, offering consumers structured payment arrangements to acquire solar home systems. This pay-as-you-go-style financing model converts upfront hardware sales into recurring revenue streams while lowering the affordability barrier for bottom-of-the-pyramid households. Yellow's go-to-market is anchored on direct rural distribution supported by a network of field agents and partner relationships, with the September 2024 USD 2 million partnership with Acumen's USD 250 million Hardest-to-Reach initiative explicitly funding the goal of providing energy access to 66,000 people in Malawi.
The company is backed by a diversified mix of development finance institutions and impact-oriented investors including Lion's Head Global Partners, Convergence Partners, GET.invest, Platform Investment Partners, Shell Foundation, Oikocredit International, SunFunder, Triple Jump, and USAID East Africa Trade and Investment Hub, with cumulative disclosed funding of approximately USD 59 million across multiple rounds from 2019 to 2024. Yellow was co-founded by Michael Heyink and Maya Stewart, who also serves as Chief Operating Officer, and the company maintains an active careers page supporting ongoing organizational buildout. Revenue is generated primarily through hardware sales augmented by consumer financing repayments, with no public pricing disclosures available.
Yellow firmographics
Firmographics- Name
- Yellow
- Legal name
- Yellow
- Website
- https://yellow.africa
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Yellow is a private off-grid solar distributor founded in 2018 and headquartered in Mauritius that delivers portable solar home systems and consumer financing to underserved rural households lacking grid electricity access, primarily in Malawi with expansion into Zambia.
- Ownership category
- akta.pro rank
Yellow industry classification
Industry- Product category
- Off-Grid Solar Energy
- NAICS
- Solar Electric Power Generation (221114)
- SIC
- Electric, Gas & Sanitary Services (4900), Electric Services (4911)
- akta.pro primary industry
- Distributed Generation (DG) Solar & Small Wind (EUAMAJAD)
- akta.pro secondary industries
- Solar Distribution & Wholesale Supply (Channel, Procurement, Logistics) (EUAMABAK), Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Community Solar Development & Subscription Management (EUAMAJAA)
Keywords
Where Yellow is headquartered
LocationHeadquarters
- HQ city
- Port Louis
- HQ country
- Mauritius
- HQ region
- Africa
Markets served
Yellow business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales
Revenue model
- Solar System Sales and Distribution: Sale and distribution of solar home systems to rural households and communities in underserved areas, enabling energy access for those without grid connectivity
Go-to-market motion1 record
Distribution channels1 record
Yellow product offering
Product offeringCore offering
Yellow distributes off-grid solar home systems to underserved rural households in Africa, primarily in Malawi, enabling electricity access for lighting, mobile phone charging, and basic appliances. The company pairs hardware distribution with consumer financing to reach households that lack grid connectivity, leveraging a distributed sales network to serve remote communities.
Product overview
Yellow operates as a dual-entity company with distinct business lines. In Africa, Yellow is an off-grid solar financing company offering solar energy systems to underserved rural populations through financing solutions. Separately, Yellow operates a cryptocurrency trading platform with the $YELLOW utility token, providing non-custodial cross-chain trading with peer-to-peer capabilities. The solar business secured $2 million from Acumen's Hardest-to-Reach initiative for expansion, while the broader company previously raised $23 million in funding.
Differentiator
Problem solved
Functional benefit
Products and services
- Solar Home Systems Portable off-grid solar power systems designed for rural households without grid access, providing electricity for lighting, mobile phone charging, and basic appliances. Sold to underserved rural populations in Malawi and other African markets via a distributed sales network.
- Solar Financing Consumer financing solutions that enable rural households to access Yellow's solar energy systems, supporting underserved populations in gaining electricity access through affordable payment arrangements.
Quantifiable outcome
- Target: 66,000 people to gain energy access
- +1 more outcomes
Companies that use Yellow
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Yellow technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Yellow partnerships and signals
Strategic signalScale indicators4 records
Recent moves5 records
Expansion highlights5 records
Yellow competitors and assessment
Company assessmentBroad incumbents
- Engie Energy Access: Engie Energy Access is the off-grid energy arm of global utility ENGIE, offering solar home systems, mini-grids, and productive-use appliances across multiple African markets. Comparable as a broad incumbent in the same distributed solar access category.
Direct peers
- Fenix International (ENGIE): Fenix International, acquired by ENGIE, pioneered PAYG solar in Uganda and expanded across sub-Saharan Africa. A direct peer on product category, PAYG model, and rural African target customer.
- M-KOPA: M-KOPA is the largest pay-as-you-go solar home system operator in Africa, serving hundreds of thousands of off-grid households across Kenya, Uganda, Tanzania, Nigeria, and Ghana. Directly comparable to Yellow on customer base (rural off-grid households), product (solar home systems with PAYG financing), and distribution model (direct-to-consumer field agents).
- BBOXX: BBOXX is a UK-headquartered PAYG solar provider operating across sub-Saharan Africa with distributed agent networks. Comparable to Yellow on PAYG financing, solar home systems, and rural African distribution; notably a more globally scaled peer.
- PowerGen Renewable Energy: PowerGen builds and operates solar mini-grids and distributes solar home systems in East and Southern Africa, including Malawi-adjacent markets. Comparable as a PAYG/solar home system peer with overlapping East/Southern African footprint.
- Sun King (Greenlight Planet): Sun King distributes pay-as-you-go solar home systems across Africa and Asia via direct field agents and PAYG financing. Directly comparable to Yellow on product, customer segment, and last-mile distribution model.
- Zola Electric: Zola Electric offers pay-as-you-go solar and storage systems across Tanzania, Nigeria, Ghana, Côte d'Ivoire, and Rwanda. Directly comparable on PAYG solar model, target customer (off-grid households), and East/Southern African market focus.
- d.light: d.light designs, manufactures, and distributes affordable solar lanterns and home systems across more than 60 countries with strong East and Southern Africa presence. A direct peer on product category, last-mile distribution, and PAYG financing for energy-poor households.
Emerging players
- SolarAid (SunnyMoney): SolarAid distributes low-cost solar lights across sub-Saharan Africa via school and community networks. Comparable as a last-mile solar distribution peer targeting energy-poor rural households, though focused on lanterns rather than full home systems.
Regional players
- SolarWorks!: SolarWorks! distributes pay-as-you-go solar home systems primarily in South Africa and Mozambique. Comparable as a PAYG solar home system peer in Southern Africa, though with limited overlap in Malawi/Zambia.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Yellow social profiles
Digital presenceYellow financial estimates
Financial estimateRevenue estimate
Valuation estimate
Yellow leadership team
Management profileNumber of profiles
Profiles2 records
Yellow funding detail
Funding detailFunding overview
Funding rounds12 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Yellow M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Yellow
What does Yellow do?
Yellow distributes off-grid solar home systems to underserved rural households in Africa, primarily in Malawi, enabling electricity access for lighting, mobile phone charging, and basic appliances. The company pairs hardware distribution with consumer financing to reach households that lack grid connectivity, leveraging a distributed sales network to serve remote communities.
Is Yellow a public or private company?
Yellow is a private company. It is classified as venture growth investor backed and is currently operating.
When was Yellow founded?
Yellow was founded in 2018. It employs 101 to 250 people.
Where is Yellow based?
Yellow is headquartered in Port Louis, Mauritius, in the Africa region.
How does Yellow make money?
One revenue line is on record: solar System Sales and Distribution.
Who are Yellow's main competitors?
Engie Energy Access is listed as a broad incumbent. Direct peers are Fenix International (ENGIE), M-KOPA, BBOXX, PowerGen Renewable Energy, Sun King (Greenlight Planet), Zola Electric and d.light. SolarAid (SunnyMoney) is listed as an emerging player. SolarWorks! is listed as a regional player.
Does Yellow have an API?
No public API is recorded for Yellow.
What industry is Yellow in?
Yellow's product category is Off-Grid Solar Energy. Its primary akta.pro industry code is EUAMAJAD, Distributed Generation (DG) Solar & Small Wind, with a secondary code of EUAMABAK, Solar Distribution & Wholesale Supply (Channel, Procurement, Logistics). Its NAICS code is 221114 and its SIC code is 4900.