CircoolApp

What CircoolApp does

CircoolApp, the consumer-facing brand of Solarcorp Technologies Limited, is a Lagos-based solar-energy company that operates two interconnected business lines. The first is Circool, branded as Africa's first solar wallet: a digital platform (web at solarcorptech.com/circool plus an Android app) that lets Nigerian households, remote workers, and small businesses save toward a solar system, triggers professional installation once 50% of the target price is accumulated, and finances the remaining 50% at zero interest, typically over 6-12 months. Customer savings are custodied in an escrow arrangement with First Ally Microfinance Bank, payments are processed through Flutterwave, Paystack, and MTN MoMo, and the price of the target system is locked at the start of the savings period. The second business line is Solarcorp's solar-systems catalogue, ranging from a portable ITEL Power Tank unit (₦375,500) up to 12 KVA lithium systems (₦9,119,200), sold outright, on installment, or financed through Circool, with professional installation completed within 24-48 hours of triggering.

Underlying the consumer product is a technical stack that combines an AI-powered solar fit test for system sizing, IoT-enabled remote monitoring of installed systems (generation, battery state-of-charge, GPS, fault alerts), and alternative-credit underwriting that integrates open banking data from Mono with telecom usage data from MTN Chenosis to score thin-file borrowers. A generative "Solar AI Assistant" chatbot sits on top for customer education and acquisition.

The company earns revenue through four streams: outright hardware sales, zero-interest installment repayment, float and operating margin on Circool savings balances, and project-based EPC installation fees. The latter includes a role as an official EPC Installation Partner for Virtuitis Solaris (Mojec Group) on World Bank/REA-funded minigrid projects under the $750 million DARES initiative, targeting over one million Nigerian households. Distribution is primarily direct-to-consumer digital plus a physical agent network, with the EPC channel addressing government-adjacent infrastructure projects separately. The company is privately held and founder-led by CEO Oyekanmi Stephen, with no disclosed institutional funding.

Name

CircoolApp

Legal name

Solarcorp Technologies Limited

Website

https://solarcorptech.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

1–10 employees

Short description

CircoolApp, the consumer brand of Solarcorp Technologies Limited, is a Lagos-based solar-energy company offering Africa's first digital solar wallet that lets Nigerian households, remote workers, and small businesses save toward solar systems, trigger installation at 50% saved, and repay the balance at zero interest.

Ownership category

akta.pro rank

Headquarters

HQ city

Lekki

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Solar Equipment Sales (Outright Purchase): Customers purchase solar systems (panels, inverters, batteries, ITEL Power Tank units) at full price. Installation is included or available separately. This is a one-time hardware revenue stream.
2. Zero-Interest Financing (Circool): Circool enables customers to save toward 50% of a solar system's cost, then request installation. The remaining 50% is paid over time at zero interest. Revenue accrues as the financed balance is repaid over agreed periods (typically 6-12 months). No interest is charged; the company benefits from the time-value of the installment receipts and operational scale.
3. Savings Plan Management: Customers contribute to savings plans on the Circool platform. Funds are held in escrow with a banking partner (First Ally Microfinance Bank). Revenue is derived from the float on accumulated savings balances during the savings period and the operational margin built into system pricing.
4. EPC Installation Services (Minigrids): As an EPC partner for Virtuitis Solaris (Mojec Group) under World Bank/REA-funded minigrid initiatives, Solarcorp earns fees for end-to-end installation of solar projects across underserved communities. This is project-based professional services revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

CircoolApp is a digital solar wallet platform operated by Solarcorp Technologies Limited that enables Nigerian households, remote workers, and small businesses to incrementally save toward the purchase of solar energy systems. Customers contribute to a purpose-locked savings wallet (held in escrow with First Ally Microfinance Bank), trigger professional installation upon reaching 50% of the system price, and repay the remaining balance at zero interest. The offering is paired with a catalogue of lithium solar systems (1KVA to 12KVA) and portable ITEL Power Tank units, with full installation and IoT-based monitoring services.

Product overview

Solarcorp Technologies operates a solar energy ecosystem consisting of two interconnected product lines: (1) Circool - Africa's first digital solar wallet platform enabling zero-interest savings and financing for solar purchases, and (2) a comprehensive portfolio of solar energy systems ranging from portable power tanks (1KVA) to large-scale installations (12KVA). The Circool platform integrates with the company's solar product catalogue, allowing customers to use AI-powered load assessments to select the right solar system, save toward 50% of the cost, get professional installation, and pay the remaining balance at zero interest. Products span portable solar generators (ITEL Power Tank), compact lithium plans (1KVA-6KVA Neptune), and premium large-capacity systems (8KVA-12KVA), all featuring lithium battery technology with professional installation and IoT monitoring capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Circool: Africa's First Solar Wallet - a digital savings platform enabling customers to save toward solar energy systems with zero-interest financing.

Products and services

• Circool Solar Wallet Platform Africa's first solar wallet - a digital savings and zero-interest financing platform that lets customers accumulate funds toward a solar system price, trigger professional installation at 50% savings, and repay the remaining balance at 0% interest over time. Includes AI-powered solar fit test, IoT-enabled system monitoring, price lock protection, and escrow-based fund custody with First Ally Microfinance Bank. Targeted at Nigerian households, remote workers, freelancers, and small businesses.
• Solar Installation Services Professional solar system installation and maintenance services including site assessment, equipment setup, system testing, and user training. Installation is delivered within 24-48 hours of triggering the process, with dedicated engineer assignment. Available across Lagos and other Nigerian cities for residential, business, and small commercial customers.
• ITEL Power Tank (Portable 1KVA / 1kWh Lithium) Portable lithium solar generator with built-in 1KVA inverter and 1kWh lithium battery. Available as a standalone unit (charges from grid or generator) or bundled with a 250W solar panel for off-grid charging. Plug-and-play unit requiring no installation; targeted at customers needing portable backup power.
• 1 KVA Lithium Micro Compact Solar System Compact lithium solar system with 1KVA inverter, 1.2kWh 12V lithium battery, and 1x500W panel. Professional installation included. Designed to power 1 TV, 2 fans, 2 laptops, 1 blender, and 6 light bulbs for small households and traders.
• 1.5 KVA Lithium Starter Compact Solar System Compact lithium solar system with 1.5KVA inverter, 1.5kWh 12V lithium battery, and 2x450W panels. Professional installation included for residential customers with modest energy needs.
• 2.5 KVA Lithium Essential Solar System Essential lithium solar system with 2.5KVA inverter capacity for homes and small businesses with moderate power loads. Popular with remote workers and shop owners needing reliable power for work tools and lighting.
• 4.2 KVA Lithium Home Solar System Home-grade lithium solar system with 4.2KVA inverter capacity for larger households with higher energy demands. Professional installation included.
• 6 KVA Lithium Neptune Compact Solar System Mid-to-large capacity lithium solar system with 6.2KVA inverter, 5kWh 48V lithium battery, and 4x550W panels. Rated to run 1 AC inverter, 2 TVs, 6 fans, 2 laptops, pumping machine, and fridge simultaneously. Available in Compact, 8hr, 12hr, and Daylong runtime variants. Designed for homes running air conditioning and other heavy loads.
• 8 KVA Lithium Solar System High-capacity lithium solar system with 8KVA inverter for large homes and small businesses with substantial power requirements. Professional installation included.
• 10 KVA Lithium Solar System Premium-capacity lithium solar system with 10KVA inverter for large residential and commercial applications with significant power needs. Professional installation included.
• 12 KVA Lithium Solar System Maximum-capacity lithium solar system with 12KVA inverter for commercial and industrial applications with the highest power demands. Professional installation included.

Quantifiable outcome

• Up to 6x savings compared to running a petrol generator over the same period
• +5 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship, core and strategic.

• Rural Electrification Agency (REA)flagshipStrategic or Co-development Partner · 1 April 2026Nigeria's Rural Electrification Agency oversees the Distributed Access Renewable Energy Systems (DARES) initiative, a $750 million World Bank-funded program to deploy minigrids and solar solutions across underserved communities. Solarcorp participates as an EPC partner under this initiative, delivering installations to communities targeted by REA's electrification programs.
• FlutterwavecoreTechnology or IntegrationPrimary payment processor for the Circool platform, enabling customers to make savings contributions and businesses to collect repayments via bank transfer, card, and other payment methods. Flutterwave is a PCI-DSS compliant Nigerian fintech providing the payment gateway infrastructure.
• PaystackcoreTechnology or IntegrationSecondary payment processor integrated into the Circool platform for transaction verification and payment collection. Paystack (a Stripe company) provides secure payment gateway services for Nigerian businesses.
• MonostrategicTechnology or IntegrationOpen banking API provider enabling Circool to access customer banking transaction history and verify income for credit assessment. Mono's APIs allow secure financial data sharing to build alternative credit profiles for underserved Nigerian consumers without traditional credit histories.
• MTN ChenosisstrategicTechnology or IntegrationTelecom data partnership enabling Circool to analyze airtime purchase patterns and payment behaviour for alternative credit scoring. Chenosis, MTN's API marketplace, provides access to telecom usage data to assess creditworthiness for customers without extensive banking history.
• Virtuitis Solaris (Mojec Group)flagshipStrategic or Co-development PartnerSolarcorp has been appointed as an official EPC (Engineering, Procurement, and Construction) Installation Partner for Virtuitis Solaris Limited, a subsidiary of Mojec International. Under this partnership, Solarcorp provides end-to-end installation services for a portfolio of minigrid and commercial & industrial (C&I) solar projects. These projects are supported by the Rural Electrification Agency (REA) and World Bank funding (DARES initiative, $750 million) and are designed to bring reliable electricity to underserved Nigerian communities. The minigrid program targets over 1 million households across Nigeria.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lumos (by TotalEnergies): Pay-as-you-go solar home system provider operating in Nigeria under TotalEnergies. Comparable to CircoolApp on entry-level household solar + instalment model and Nigerian market focus, though positioned as a global-major-backed incumbent.
• Zola Electric: Pay-as-you-go solar provider operating in Nigeria and other African markets, with smart-home solar+battery products aimed at households and SMBs. Directly comparable to CircoolApp on product category, target customer and PAYGO financing mechanic, and is a head-to-head competitor in Nigeria.
• Arnergy: Nigerian distributed solar utility providing solar home and SMB systems with embedded financing. Comparable to Solarcorp's hardware range (1KVA–12KVA) and Nigerian customer base, and is one of the closest domestic direct competitors.

Broad incumbents

• d.light: Global PAYGO solar company operating across more than 70 countries with a strong Africa presence. Comparable to CircoolApp on the consumer solar + instalment financing model, particularly for entry-level home systems aimed at underbanked households.
• Sun King (Greenlight Planet): One of the largest PAYGO solar home system providers across Africa and Asia. Highly comparable to CircoolApp because it also finances distributed solar for off-grid households via instalment/credit mechanics, though at much larger scale and with institutional capital backing.
• M-KOPA: Kenya-headquartered PAYGO solar and asset financing platform serving East Africa. Comparable to CircoolApp's solar wallet / instalment model and use of mobile payment rails to underwrite off-grid customers, though at materially larger scale.
• BBOXX: UK-headquartered PAYGO solar and smart-energy company operating across multiple African markets. Comparable to CircoolApp on data-driven credit scoring, IoT-enabled systems and instalment financing for off-grid households.

Emerging players

• PEG Africa: PAYGO solar distributor focused on West Africa, including Ghana and Côte d'Ivoire. Comparable to CircoolApp on PAYGO consumer solar financing in West Africa; geographically adjacent but with limited Nigeria overlap.

Others

• Cowrywise: Nigerian digital savings and investment platform with purpose-locked and goal-based savings features. Comparable to Circool's purpose-locked solar savings wallet on the consumer-savings UX, and also listed as a 'trusted by' partner on Solarcorp's site.
• Piggyvest: Nigeria's leading digital savings and wealth-management platform. Comparable to the Circool savings-wallet mechanic and is publicly displayed as a 'trusted by' partner on Solarcorp's homepage, indicating ecosystem/advisor overlap rather than direct competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Solarcorpenergy
• Facebookweb.facebook.com/profile.php?id=100063791056195
• LinkedInlinkedin.com/company/circoool
• Instagraminstagram.com/solarcorp.energy?igsh=eDIzZjBjc3E2NHFm

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 CircoolApp