The Sun Exchange, a a South African based marketplace that crowdfunds small-scale solar projects using digital currencies such as bitcoin, has raised US$60,000 from Silicon Valley firm BoostVC.

The US$60,000 will be used to build its team.

Launched at the end of 2015, the Sun Exchange is a peer-to-peer lending platform that connects people wanting to invest in solar energy with projects.

The startup temporarily relocated to Silicon Valley to raise investment, and now have US$60,000 from BoostVC.

Founder Abraham Cambridge and his team are putting together a working demo of the world’s first commercially viable solar energy smart-contract system, and will then be seeking seed capital of US$1.2million.