Copyright TechStartups.com
Mexico’s energy crisis is pushing small businesses to the brink. High electricity costs and frequent power outages are cutting into profits and stalling growth for millions of micro, small, and medium-sized enterprises (MSMEs) that make up nearly 99% of the country’s economy. One clean energy startup is betting that the sun can fix that. Solfium, a Mexico-based solar technology startup helping businesses transition to clean and reliable energy, has raised $10 million in Series A funding led by Accion and ALIVE Ventures, with participation from Kamay Ventures. The first $7 million of the round has been completed, marking a major step for the Monterrey-based startup as it pushes to make solar power accessible to everyone—from large corporations to local entrepreneurs. The funding will allow Solfium to scale its integrated solar platform, which streamlines everything from financing and installation to long-term maintenance. Since 2022, the company has installed 36,260 solar panels, adding 25 MW of electricity capacity—enough to cut 281,000 tons of CO₂ over the next 25 years. That’s roughly $28 million in savings for its customers. CEO and co-founder Andres Friedman said Solfium’s mission is simple: “Clean energy shouldn’t be a privilege. With this funding, we’re accelerating the transition to reliable, affordable solar energy that strengthens both our economy and our planet.” Mexico’s fragmented solar market has long been a barrier for businesses trying to go green. Switching to solar often means juggling multiple contractors, financial institutions, and regulatory steps—a process that can be slow and costly. Solfium’s digital platform cuts through that friction by offering a one-stop system for businesses of all sizes, including affordable financing through partnerships with major banks. The company’s impact goes beyond just reducing carbon footprints. Businesses using Solfium’s systems can lower their electricity bills by up to 95% over the lifetime of their solar setup. They can also protect themselves from frequent blackouts by adding energy storage solutions. Solfium’s reach is already extending across major industries. The company is working with Coca-Cola, three of Mexico’s top five banks, and several multinational corporations to supply solar energy not just for their own operations but for thousands of small businesses in their supply chains. John Fischer, Chief Investment Officer at Accion, said the company’s work addresses a critical gap in Mexico’s clean energy transition. “By connecting small business owners to the necessary financing for clean solar power, Solfium is filling a critical gap in Mexico’s energy market. With Solfium, entrepreneurs can weather power outages, stay open longer, and continue to generate income, all while reducing emissions.” Virgilio Barco, Managing Partner at ALIVE Ventures, echoed that sentiment, saying the company’s approach aligns with their goal of backing inclusive, scalable businesses. “Solfium’s innovative digital platform, corporate partnership model, and strong leadership team align perfectly with ALIVE’s mission to support scalable businesses that drive inclusion and sustainable growth.” With its latest funding, Solfium plans to reach millions of underserved small and medium enterprises across Mexico, many of which are owner-managed and lack access to affordable financing. By connecting these businesses to clean energy through its tech-driven model, Solfium hopes to create a ripple effect—strengthening local economies while accelerating Mexico’s shift toward sustainability. The company’s platform brings together everything a business needs to decarbonize—from solar installations and energy management systems to battery storage, EV chargers, and predictive maintenance tools—creating a unified clean-energy ecosystem that serves both global corporations and small local suppliers. Solfium’s bet is clear: powering small businesses with sunlight might just be the key to lighting up Mexico’s economic future.
