Ho Chi Minh City, 17.03.2026 – We are proud to announce the close of a debt financing round bringing total funding to $3.15 million in combined equity and debt as we continue to build our solar financing platform for Southeast Asia’s small and medium-sized businesses looking to reduce their electricity costs.

The round includes a $300,000 senior loan from the SECO Startup Fund, a development finance initiative of Switzerland’s State Secretariat for Economic Affairs (SECO). This marks the SECO Start-up Fund’s first investment globally under its new management by iGravity and Seedstars. The SECO Start-up Fund loan aims to be a catalyst for further debt providers from private markets and in this case already resulted in a further $1 million debt facility for SmartSolar provided by German travel companySKR Reisen, a pioneer for sustainable travel.

The new debt brings SmartSolar’s total funding to date to $3.15 million, including a previously announced $1.85 million seed round backed by Picus Capital, 2degrees, and Iterative.

While the equity round allowed us to build our platform in 2025, the bigger story now is access to institutional debt. The SECO Startup Fund provides the first loan under a development finance initiative. “Equity helped us build the platform. Debt is what allows us to scale,” said our founder and CEO Kevin Junker. “Having the SECO Start-up Fund as our first institutional lender is a strong signal that this model works commercially and from an impact perspective.”

“SmartSolar exemplifies the type of entrepreneur-led, impact-driven business that supports both climate action and economic development,” said Christian Brändli, Head of Private Sector Development at SECO. “This investment demonstrates Switzerland’s commitment to backing commercially viable solutions that address real market gaps in emerging economies.”

Solar without upfront costs

Vietnam’s SMEs - which make up the vast majority of businesses in the country - often spend 10–20% of operating costs on electricity. But most lack access to affordable financing for rooftop solar systems.

At SmartSolar, we tackle that with our zero-upfront-cost model. We finance, install, and maintain rooftop systems on behalf of our clients, allowing them to save 15–25% on their electricity costs.

Since launch, we have deployed nearly 4 MWp of capacity across customers ranging from factories to automotive workshops and fitness centers.

The new $1.3 million in debt will allow us to fund additional installations and continue building the track record required to raise larger structured facilities from development finance institutions and private credit funds. “Our model is replicable, and we’re building the foundation now to mobilize significantly larger pools of institutional capital next and expand across Southeast Asia.” said Dominik Wingeier, CFO of SmartSolar.

About SmartSolar SmartSolar is a Saigon-based solar energy company providing affordable, zero-upfront-cost rooftop solar solutions to small and medium-sized enterprises in Vietnam. Through its solar-as-a-service model, SmartSolar enables businesses to reduce energy costs by 15-25% while transitioning to clean, renewable power. Founded in 2024, the company has deployed nearly 4 MWp of solar capacity across 75+ systems for its customers.

For media inquiries:kevin@smartsolar.com.vn

About SECO Startup Fund (SSF) The SECO Startup Fund is a development finance initiative established by Switzerland’s SECO (State Secretariat for Economic Affairs) and managed by iGravity and Seedstars. Since 1997, the fund has supported over 130 businesses across emerging markets with flexible debt financing. SSF backs entrepreneur‑led emerging‑market businesses that maintain strong Swiss connections through their shareholders, supply chains, or strategic partners, and that create jobs, drive climate‑smart innovation, or expand access to essential goods and services to advance sustainable development in their local communities.

For media inquiries:daniela.moreno@seedstars.com

About SKR Reisen SKR Reisen is a German tour operator founded in 1978 and headquartered in Cologne, specializing in small-group cultural and experiential travel in more than 90 countries worldwide. The company focuses on authentic encounters, carefully selected local partners, and intimate group sizes that foster meaningful exchange between travelers and host communities. Sustainability is a core pillar of SKR Reisen’s business model: the company is committed to responsible tourism practices, supports local value creation in destination countries, and offsets the CO₂ emissions of its trips through certified climate protection projects. By combining long-term partnerships with a strong environmental and social responsibility framework, SKR Reisen aims to ensure that travel contributes positively to sustainable development both locally and globally.

For media inquiries:presse@skr.de