PayGo Energy secures Saisan Investment to launch world-first Cylinder Smart Meter in Asia
WLPGA member PayGo Energy have announced a partnership with Saisan Company Ltd to launch PayGo’s Cylinder Smart Meter (CSM) across Saisan’s Gas One retail network. The partnership will provide households in Asia with access to pay-as-you-go LPG for the first time. The strategic investment by Saisan will also provide PayGo with vital financing to initiate its operational expansion into South Asia.
For PayGo, the partnership provides a footprint in fast-growing emerging economies across Asia, and a clear path to scale, leveraging Saisan’s expansive distribution and retail network, and the company’s deep expertise in downstream LPG.
‘We see huge untapped demand for LPG in Asia. In Saisan, we have a partner with generations of LPG experience, and a trusted retail brand. We’re excited to work with Saisan to bring our technology to households across the region.’ Nick Quintong, CEO & Co-Founder, PayGo Energy
For Saisan, PayGo’s technology enables the company to expand its LPG business, and grow its reputation for driving digital innovation in LPG.
‘We’re thrilled to be pioneering PayGo’s innovative smart metering technology across Asia, and to provide our customers with the world’s best gas service.’ Takehiko Kawamoto, President & CEO, Saisan
PayGo has also secured investment from Japan-backed VC fund Kepple Africa Ventures. Kepple helps blue-chip African start-ups raise funds from and form strategic partnerships with large Japanese corporates.
The deal sees PayGo continue to build momentum as the company gears up for its Series B raise in the coming months. Nairobi based advisory firm, StratLink Africa acted as the exclusive transaction advisor on behalf of PayGo.
About PayGo Energy
PayGo Energy is a venture backed technology company, founded in Nairobi, Kenya in 2015. PayGo’s vision is to ‘Unlock Clean Cooking for the Next Billion’. PayGo builds hardware and software solutions to help grow early-stage markets for LPG. PayGo’s patented Cylinder Smart Meter (CSM) is an IoT device that accurately measures the flow of gas from an LPG cylinder in the customer’s home, enabling households to pay for gas in small amounts using mobile money. The PayGo CSM is the only LPG smart meter on the market that is certified under ATEX directives. PayGo is a member of the WLPGA.
About Saison Company Ltd
Saisan is a vertically integrated energy business, headquartered in Saitama, Japan, and founded in 1945. Saisan’s vision is to become a premier company of general energy and living support businesses in Japan and the Asia-Pacific region. Saisan is a leading LPG distributor in Jana, and holds downstream investments in nine other Asian markets (Mongolia, Vietnam, Indonesia, Cambodia, Bangladesh, Nepal, Thailand, Laos and India) under its Gas one Group.