After winning the Governor’s Business plan contest in 2018, Novomoto has big plans for expansion in 2019 and beyond.
The company provides rent-to-own solar electrical systems for families in the Democratic Republic of Congo, and is looking ahead to other countries in sub-Saharan Africa.
“We’re definitely expanding and trying to grow the company,” says Aaron Olson, company co-founder.
Olson explains that current customers are relying on kerosene lights, batteries and flashlights for power in their homes, and the Novomoto system provides a reliable and safe alternative.
The company’s current focus is customers working in places like schools and hospitals, as well as those employed by the government. Olson says that’s because these groups often have a steady income, ensuring they’ll continue paying for the service.
Novomoto began in 2017 after spinning off from UW-Madison, and the company has grown quickly under co-founders Olson and Mehrdad Arjmand. At the end of 2017, the company had 20 paying customers, and Olson and Arjmand managed to grow that tenfold by the end of 2018.
Within the next month, the company is looking to have 500 paying customers in the Congo. With additional funding and employee hires coming soon, Novomoto is aiming for 5,000 customers by the end of this year.
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