On March 24, 2025, solar provider Stride announced it has secured a Series A equity investment from UOB Venture Management, Clime Capital, and Touchstone Partners. This significant funding boost, co-led by Clime Capital and UOB Venture Management, is poised to help Stride scale its operations and unlock green financing opportunities.
Stride is dedicated to reducing the barriers for homeowners and small to medium-sized enterprises (SMEs) in Vietnam, facilitating the adoption of rooftop solar and battery energy storage systems. The company’s innovative platform combines tailored financing, advanced technology, and quality assurance solutions that empower customers to access energy-efficient solar installations.
The current energy landscape in Vietnam is undergoing transformation as the country's Ministry of Industry and Trade (MoIT) revises its power development plan, known as the Power Development Plan VIII (PDP8). Under the new plan, Vietnam aims to increase its solar power capacity from over 25 gigawatts (GW) to 34 GW by 2030, with solar energy projected to account for approximately 45% of this additional capacity.
Andrew Fairthorne, Co-founder and CEO of Stride, expressed excitement about the new investment. He stated, "We are delighted to have attracted a further round of equity investment to fuel Stride’s growth. This will help Vietnam move toward achieving its climate goals by enabling more households and small businesses to access cost-efficient green energy." This statement underscores Stride's commitment to sustainable energy solutions in the region.
Moreover, the infusion of capital from the recent investment will help bolster Stride's initiatives at a pivotal time for Vietnam's energy sector. The company's growth trajectory since its inception in 2021 has been remarkable, rapidly establishing it as a leading provider of financed clean energy solutions for residential and SME customers. Stride’s innovative approach is not only easing access to renewable energy but also enhancing Vietnam’s push towards a greener future.
In May 2023, Stride secured seed-stage equity capital from Clime Capital through its inaugural fund, SEACEF I, alongside Touchstone Partners. The subsequent debt financing from Trine—a Swedish investment platform dedicated to solar technologies in emerging markets—further highlights the growing confidence in Stride's model. This Series A round is an endorsement of the company's strategic direction, as shared by Vanshika Khemka, Investment Manager at Clime Capital, who noted, "Clime’s approach means that as portfolio companies meet their growth and development targets, further equity funding is available to accelerate their progress. Stride’s success demonstrates the effectiveness of deploying early-stage risk capital into promising clean energy companies."
As Vietnam grapples with the pressing challenges of climate change, the clean energy transition is especially critical. Clarissa Loh, Executive Director at UOB Venture Management, remarked, "With its unique position as a company that supports micro businesses transitioning to solar energy through rooftop installations, Stride is contributing to the clean energy transition needs of Vietnam, one of the most vulnerable regions to the impact of climate change. This new round of financing will enable Stride to further scale its solution, creating positive social and environmental impact in ASEAN."
Stride’s rapid expansion is a reflection not just of the demand for solar energy solutions but also of the company’s strategic partnerships with a wide network of solar installers across Vietnam. By leveraging its proprietary digital platform, Stride aims to ensure that its customers receive the highest quality installations, thereby boosting confidence in solar energy adoption.
As the government outlines ambitious plans for solar energy accessibility, Stride stands poised not only to benefit from this growth but to actively contribute to shaping the renewable energy landscape in Vietnam. The effects of clean energy solutions ripple through communities, reducing reliance on non-renewable sources and promoting sustainable practices among households and businesses alike.
The roadmap set forth by the MoIT, combined with Stride's dedicated efforts, positions Vietnam for significant advancements in green energy. Stride's project not only reflects corporate success but resonates with a broader global narrative surrounding climate action.
In conclusion, the recent Series A investment demonstrates a critical step towards enhancing energy access across Vietnam. As both households and small businesses continue to seek sustainable energy solutions, Stride not only fulfills a business model but actively participates in Vietnam's greener future. Through significant partnerships and investments, Stride is proving that clean energy is accessible and indispensable for a robust, sustainable economy.
