About Baobab +
Baobab + is an Energy & Utilities company based in Senegal founded in 2015 by Alexandre Coster, and was acquired by BioLite in May 2025. Provider of agent-based payment solutions. It operates in the Energy & Utilities and Technology sectors. Baobab + has raised $14.07 million across 4 funding rounds from investors including BioLite, Norfund and All On. Its chief executive, as recorded, is Alexandre Coster. Baobab + offers products and services including Solar Products, Digital Products, and Improved Stoves. Its focus areas include Energy Tech, Renewable Energy Tech, Solar Energy and DERMS.
Company details
Baobab was founded in 2015 in Senegal as a fintech provider specializing in agent-based payment solutions. Operations focus on facilitating bill payments, money transfers, cash withdrawals, and loans through a network of agents. Small-scale businesses are supported for consumers in rural areas. Solar lights are also supplied to schools in underserved regions, enhancing access to essential services.
Products & Services of Baobab +
Baobab + offers a comprehensive portfolio of products and services, including Solar Products, Digital Products, and Improved Stoves.
Provides clean and reliable energy for households and businesses.
Offers smartphones and tools for digital inclusion and business growth.
Reduces smoke emissions and promotes efficient cooking for daily use.
Apps and channels of Baobab +
its YouTube channel Izili has 100 subscribers and 22 videos.
Videos from Baobab +
The most watched videos on Baobab +'s YouTube channel, Izili (100 subscribers). Click a video to play it here.
More on Izili.
Funding Insights of Baobab +
Baobab + has successfully raised a total of $14.07M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $2.25 million completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $14.07M
- Total Rounds 4
- Last Round Debt – Conventional — $2.25M
- First Round $2.35M
(Apr 2021)
- Investors Count 4
All 4 funding rounds of Baobab with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2024 | $2.25M | Debt – Conventional | – | – | |
| Jul 2022 | $5.11M | Debt – Conventional | – | – | |
| Sep 2021 | $11.72M | Series A | – | Norfund | – |
| Apr 2021 | $2.35M | Seed | – | – |
5 investors in total: 5 institutional.
Investors in Baobab +
Baobab + has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include BioLite, Norfund and All On.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Impact investing is managed through private equity by Symbiotics Group. | symbioticsgroup.com | Geneva, Switzerland | ||
It invests in developing countries to create jobs and improve lives | 1998 | norfund.no | Oslo, Norway | |
Investment management firm and venture capital fund focused on multiple sectors | triplejump.eu | Amsterdam, Netherlands | ||
All On operates as an infrastructure fund focused on energy investments. | 2016 | all-on.com | Lagos, Nigeria | |
Energy generation from wooden biomass, powerbank and solar kit | 2009 | bioliteenergy.com | Brooklyn, United States |
Investor details for Baobab
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People of Baobab +
12 people are tracked at Baobab + (5 in leadership, 7 in team).
| Name | Role | Group |
|---|---|---|
Alexandre Coster | Founder & CEO | Leadership |
Sandrine Marmolejo | CEO | Leadership |
Keltoume Tizzaoui | Chief Financial Officer | Leadership |
Comfort Akpan | Head Of Supply Chain & Logistics | Leadership |
Kolawole Oguntuase | Chief Operating Officer | Leadership |
Saer Dial | Responsable Expérience Client | Team |
Samuel Omotayo | Area Sales Manager | Team |
Danice Elysé | Team Leader | Team |
Gbenga Idowu | Area Business Manager | Team |
Emmanuel Isidore Ndong | Directeur Administratif Et Financier | Team |
Foly Kouassi Marcel Adanlete | Commis Aux Stocks | Team |
Ange Koffi | Conseillère Client Baobab+ En Agence Baobab | Team |
Complete people profiles for Baobab +
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Timeline of Baobab +
4 dated milestones of Baobab + across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Baobab + is founded.
- Funding First funding round of $2.3M.
- Funding Latest funding round, Debt – Conventional, of $2.2M.
- Exit Acquired by BioLite.
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Related news about Baobab +
Complete news archive for Baobab
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Frequently Asked Questions about Baobab +
Baobab + was founded in 2015 and raised its 1st funding round 6 years after it was founded.
Baobab + is headquartered in Senegal.
Alexandre Coster is the CEO of Baobab +, as recorded in our data. They have also founded this company.
Baobab + is a funded company, having raised a total of $14.07M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2.35M, raised on Apr 2021.
Baobab was founded in 2015 in Senegal as a fintech provider specializing in agent-based payment solutions. Operations focus on facilitating bill payments, money transfers, cash withdrawals, and loans through a network of agents. Small-scale businesses are supported for consumers in rural areas. Solar lights are also supplied to schools in underserved regions, enhancing access to essential services.
Baobab + offers Solar Products, Digital Products, and Improved Stoves.
Baobab + has 5 investors. Key investors include BioLite, Norfund, All On, Symbiotics Group, and Triple Jump.
Yes. Baobab + was acquired by BioLite in May 2025.