Koolboks Credit Facility: TLG Capital Backs Inventory Growth
Quick Reads
- TLG Capital has closed a credit facility for Koolboks,
- The money is working capital for inventory and for growing retail and appliance partnerships.
- The facility combines TLG’s private credit with a guarantee from Cascador, delivered with Morgan Stanley.
- TLG has committed about $65 million across 16 Nigerian SMEs since 2024.
- Koolboks has sold more than 15,000 units across Africa,
- The size of the facility has not been disclosed in the reports reviewed.
Nigerian solar-cooling company Koolboks has secured a credit facility from TLG Capital to fund inventory and meet rising demand for its solar-powered freezers. The deal shows how African climate-tech startups are turning to private credit, not just equity, to scale hardware businesses.
What is the Koolboks credit facility for?
Koolboks sells solar-powered freezers and appliances to traders, small businesses and corporate customers in Nigeria and beyond. The new financing gives it working capital to buy the stock it needs to meet growing demand and to expand its retail and appliance partnerships, according to Africa Private Equity News.
Nairametrics reports that the financing blends TLG Capital’s private credit with a guarantee from Cascador, a Nigeria-focused platform for growth-stage founders, delivered in partnership with Morgan Stanley.
What did the investors and company say?
TLG co-founder and partner Isha Doshi said the firm has “serious ambitions to address cold-chain infrastructure across Africa,” according to. Doshi called Koolboks’ product innovative for individuals and SMEs.
Koolboks’ chief executive told Dealroom that TLG understood what the product means to customers and found financing that matched the company’s pace.
Why does this deal matter for Nigerian startups?
Hardware businesses like Koolboks have to pay for stock before they can sell it. That is expensive to fund with equity alone. Dealroom notes that climate-tech startups are increasingly using private credit for this reason.
The facility follows Koolboks’ $11 million Series A in 2025, led by KawiSafi Ventures, which blended equity, debt and grants to expand assembly in Nigeria. Startup Researcher also notes that Koolboks’ Koolbuy platform extends the same financing model to household appliances from leading brands.
TLG says it will keep working with Koolboks on corporate governance, ESG monitoring, operational performance and strategic growth. The deal adds to TLG’s Nigerian SME portfolio, which now totals about $65 million across 16 companies.
