Stride Raises $15M Series B for Vietnam Solar Financing

Stride, a Vietnam-based rooftop solar financing platform for households and small businesses, raised a US$15 million Series B. The round was co-led by Lightrock and TRIREC through Accelerate7. Existing investors Clime Capital and UOB Venture Management also participated in the funding. Vietnam's installed solar capacity has risen from near zero in 2018 to more than 19 GW, while the country's Power Development Plan VIII targets rooftop solar at 50% of residential and office buildings by 2030.

Funding Details and Use of Capital

Stride's Series B will support expansion nationwide and entry into new markets. The company stated the funds will also support its installer network, digital tools, and quality controls.

Vietnam's Solar Financing Gap

A typical home solar system costs about US$4,000. Many families cannot cover that upfront cost, and large banks often avoid small consumer loans for purchases like this. Stride's financing model addresses this gap by spreading out the cost over time.

Market Implications

Stride's business model suggests one barrier to solar adoption in developing countries is access to consumer credit, rather than the technology itself. The financing gap extends beyond Vietnam. In one Afghanistan study, more than 92% of respondents said they were open to solar if loans were available. The investment reflects a wider move in climate finance toward platforms that bundle demand from households and small businesses, rather than focusing only on large utility-scale projects. This approach can support national energy targets through distributed adoption from homes and small firms.