What Masunga does

Masunga is a London-headquartered fintech infrastructure company that builds digital and financial systems for last-mile credit operations in emerging markets. The company operates a two-layer platform architecture: PaygOps, an open-source, AI-powered web and mobile operations platform that digitalises credit workflows and produces standardised portfolio data for distributors selling energy access and climate-smart agriculture products on credit; and Bridgin, a complementary financing infrastructure layer that converts those structured receivables into off-balance-sheet liquidity through ring-fenced financing vehicles, connecting asset-based distributors to institutional capital. The technology stack feeds data generated in PaygOps directly into Bridgin, giving investors monitored portfolio performance while unlocking working capital for operators.

The company is backed by impact-oriented investors including Acumen, Compass, Equitable Ventures, Gaia Impact Fund, InnoEnergy, and Zubilabs, and holds strategic partnerships with UNDP, Microsoft Affordable Access Initiative, USAID Power Africa, GOGLA, Efficiency for Access, and EnnAccess. It reports 40+ countries of operation, 150M EUR in loans managed through the platform, and 6M+ lives impacted. Founded in 2014 (formerly Solaris Offgrid), the company rebranded to Masunga to reflect its expanded scope beyond off-grid energy into broader climate resilience.

Masunga's business model combines subscription/recurring platform fees for PaygOps licensing with transaction-based facilitation fees from Bridgin's financing intermediation. Pricing is not publicly disclosed and is presumably quote-based given the B2B enterprise nature and the complexity of the financing structures involved. Go-to-market is a consultative enterprise sales motion targeting last-mile operators as primary customers, with institutional capital partners positioned on the Bridgin side of the marketplace.

Name

Masunga

Legal name

Masunga

Website

https://solarisoffgrid.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Masunga is a London-based fintech infrastructure company operating PaygOps (open-source, AI-powered credit operations platform) and Bridgin (off-balance-sheet financing infrastructure) to standardise last-mile credit data and connect emerging-market distributors of energy access and climate-smart agriculture products to institutional capital across 40+ countries.

Ownership category

akta.pro rank

Product category

Fintech Infrastructure for Last-Mile Credit

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)

akta.pro secondary industries

Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Marketplace & Platform Seller Payouts (FSAMAKAE)

Keywords

• Credit operations platform
• Off-balance-sheet financing
• Energy access fintech
• Receivables-backed lending
• Last-mile distribution

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Platform/SaaS Fees: Revenue likely generated through platform licensing fees for PaygOps operations platform used by last-mile operators, and fees from Bridgin financing infrastructure connecting operators to institutional capital.
2. Financing Facilitation: Revenue from facilitating off-balance-sheet financing transactions, converting receivables into liquidity for asset-based distributors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Masunga sells a two-layer fintech infrastructure stack to last-mile operators in energy access and climate-smart agriculture. PaygOps is an open-source, AI-powered web and mobile operations platform that converts manual credit workflows into digitalized processes and produces standardized, decision-grade portfolio data. Bridgin is a financing infrastructure layer that uses that operational data to structure ring-fenced, off-balance-sheet receivables financing vehicles, connecting asset-based distributors to institutional capital with ongoing reporting and cashflow visibility.

Product overview

Masunga operates a two-layer platform architecture: PaygOps is an open-source, AI-powered operations platform for digitising credit workflows and generating standardised portfolio data for last-mile operators in sectors like energy access and climate-smart agriculture. Bridgin is the complementary financing infrastructure layer that transforms those operational receivables into off-balance-sheet liquidity through ring-fenced financing vehicles, connecting asset-based distributors with institutional capital. The two products work together in an integrated stack, with PaygOps feeding structured data into Bridgin to enable scalable, monitored financing.

Differentiator

Problem solved

Functional benefit

Brands

• PaygOps: Open-source, customisable, AI-powered web and mobile operations solutions for digitalising credit operations and generating standardised portfolio data. Feeds structured receivables data into Bridgin.
• Bridgin

Products and services

• PaygOps Open-source, AI-powered web and mobile operations platform that transforms manual credit workflows into efficient digitalized processes for last-mile operators in energy access and climate-smart agriculture, generating standardized, decision-grade portfolio data that feeds into the Bridgin financing layer.
• Bridgin Off-balance-sheet financing infrastructure that converts operational receivables data (from PaygOps or compatible systems) into liquidity at scale, enabling asset-based distributors to access capital while giving investors standardized, monitored portfolios structured through ring-fenced financing vehicles with ongoing reporting and cashflow visibility.

Quantifiable outcome

• 6M+ lives impacted
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Efficiency for AccesscoreStrategic or Co-development PartnerCoalition working to accelerate energy access through efficient, off-grid appliances. Partnership supports scaling last-mile credit operations for clean energy distribution.
• EnnAccesscoreStrategic or Co-development PartnerOrganization focused on expanding energy access. Supports Masunga's work in standardizing credit operations for energy distributors.
• GOGLAcoreStrategic or Co-development PartnerGlobal association for off-grid solar energy companies. Masunga is a member, participating in industry standards and best practices for credit operations.
• Microsoft Affordable Access InitiativecoreStrategic or Co-development PartnerMicrosoft program supporting technology solutions for affordable internet and energy access in underserved markets.
• USAID Power AfricacoreStrategic or Co-development PartnerUS government initiative to increase access to power in sub-Saharan Africa. Supports energy access financing and last-mile distribution.
• UNDPcoreStrategic or Co-development PartnerUnited Nations Development Programme. Partnership on climate aggregation platform and scaling balance sheet receivables financing for grid solar solutions.
• MFR (MicroFinanza Rating)minorStrategic or Co-development PartnerMicrofinance rating agency providing impact and social performance ratings for microfinance institutions.
• Unreasonable GroupminorStrategic or Co-development PartnerBusiness support organization for entrepreneurs tackling social and environmental challenges. Masunga recognized as an Unreasonable Company.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Angaza: Angaza provides a PAYG (pay-as-you-go) software platform enabling off-grid energy distributors to manage credit sales, customer data, and receivables — directly overlapping with Masunga's PaygOps product. Both companies target the same last-mile distributor customer base in emerging markets with credit-operations tooling.
• M-KOPA: M-KOPA is a leading pay-as-you-go solar home systems operator in East Africa that combines distribution with embedded credit financing for off-grid households. It overlaps with Masunga's energy-access customer segment and demonstrates the vertically-integrated model Masunga enables via Bridgin.
• BBOXX: BBOXX is a distributed solar provider in Africa and Asia using PAYG financing for off-grid customers. Like Masunga's customers, BBOXX relies on standardized receivables data to access capital markets, making it a comparable platform operator in Masunga's target vertical.
• d.light: d.light designs, manufactures, and distributes solar energy products on PAYG terms across Africa and Asia. Its pay-as-you-go operations and need for standardized receivables data make it a relevant comparable within Masunga's addressable last-mile operator base.
• Sun King (formerly Greenlight Planet): Sun King is one of the largest off-grid solar distributors globally, selling PAYG solar products across Africa and Asia. As a major last-mile operator, Sun King represents the kind of large-scale customer Masunga's PaygOps + Bridgin stack is designed to serve.
• SunFunder: SunFunder is a solar finance company providing debt capital to off-grid solar distributors — a direct functional analog to Bridgin's financing-infrastructure layer. Both companies mobilize institutional capital for last-mile solar distributors in emerging markets.
• Paygo Energy: Paygo Energy provides PAYG solutions for clean cooking fuel distribution, paralleling Masunga's energy-access vertical. Both companies apply credit-operations technology and receivables financing to extend access to under-served households.

Emerging players

• Tala: Tala is a mobile lending platform serving underbanked consumers in emerging markets using alternative credit data. While Tala focuses on direct consumer lending rather than B2B distributor credit ops, it operates in the same fintech-for-emerging-markets category and uses similar AI-driven credit decisioning.
• Branch International: Branch provides mobile-first digital financial services including lending to underbanked consumers across Africa and Asia. It overlaps thematically with Masunga in bringing data-driven credit infrastructure to emerging markets, though it targets end-consumers rather than last-mile distributors.
• KoboGo: KoboGo is an inclusive fintech infrastructure provider offering mobile money, payments, and lending tools for underserved markets in Africa. It overlaps with Masunga's fintech-infrastructure-for-emerging-markets positioning, though it focuses more on payments than on receivables financing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/solarisoffgrid
• YouTubeyoutube.com/channel/UCWFxQ2JEa6_EDs8pblvjvBQ
• Facebookfacebook.com/solarisoffgrid
• LinkedInlinkedin.com/company/masunga
• Instagraminstagram.com/wix

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds5 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Masunga