Refy, an AI-driven financier focusing on green assets in Southeast Asia founded by Ed Chin, just received a boost with a pre-seed investment of $525,000 from Wavemaker Impact.
- Startup Snapshot: Refy’s mission is clear – make green asset financing accessible and efficient. This fresh infusion of funds marks a pivotal first step towards achieving this goal.
- Addressing the Financing Gap: While large-scale renewable energy projects often find financial backing, small to mid-sized ventures (worth between $500,000 and $5 million) like solar installations, electric vehicle initiatives, water treatment, and energy efficiency upgrades struggle to secure funding. Refy is here to change the narrative.
- Innovative Solutions for Green Developers: Refy’s strategies are two-fold. Firstly, offering customised financing solutions that cater to the specific needs and risks of green projects. Secondly, deploying an AI-powered platform to simplify and expedite the due diligence and evaluation process. This not only accelerates project deployment but also opens new doors for investors to discover and fund high-quality green initiatives.
- Boosting Bankability: By focusing on Southeast Asia, where the commercial and industrial (C&I) sector market is valued at a staggering $200 billion, Refy aims to elevate the attractiveness of smaller green projects to investors. Initial efforts will concentrate on Malaysia, the Philippines, and Vietnam, with further expansion on the horizon.
Looking ahead, Refy has set its sights on generating $100M in revenue and reducing CO2 emissions by 100 million tons, thereby facilitating the roll-out of $70B in green assets over the next decade.
