TLG Capital arranged a new credit facility for Koolboks, a solar-powered refrigeration company that has sold more than 15,000 units across Africa. The financing will fund inventory purchases and support the company's retail distribution growth. It combines TLG Capital's private credit with a guarantee from Cascador, delivered through Morgan Stanley.
Funding so far
TLG Capital has committed approximately US$65 million across 16 Nigerian SMEs over the past two years. The firm focuses on small and medium enterprises in sub-Saharan Africa. This deal marks the second partnership between TLG Capital and Cascador in recent weeks.
Company footprint
Koolboks was founded in Paris in 2018 by Ayoola Dominic and Deborah Gaël. It assembles its products in Lagos and employs around 400 people across Nigeria, Kenya, and Uganda. The company has shipped products to over 25 markets.
How the freezers work
Koolboks freezers combine solar panels, patented ice-battery technology, and pay-as-you-go payments. They provide cooling day and night, including during power outages. The company's Koolbuy platform extends the same financing model to household appliances from leading brands.
TLG will continue working with Koolboks on governance, ESG monitoring, and operational performance. Koolboks plans to use the new capital to grow its retail and appliance partnerships. The company also aims to expand cold-chain infrastructure across Africa.