"Berlin's energy transition sector got a defining boost today as Cloover, a climate fintech based in Berlin, announced it has secured more than $1.2 billion in total capital commitments, combining Series A equity and a substantial debt facility to accelerate the rollout of its software and financing platform across Europe. The financing package includes €18.8 million (approximately $22 million) in Series A equity, led by MMC Ventures and QED Investors, with participation from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec, and Earthshot Ventures."
"Alongside that, a €1.02 billion debt facility provided by a major European bank will be deployed directly as customer and installer financing through Cloover's platform, backed by a €300 million guarantee from the European Investment Fund to support scalable, low-cost lending for clean energy projects. For a company that only a few years ago was in seed-stage fundraising, the scale of these commitments marks a striking shift."
"Cloover was founded in 2023 by Jodok Betschart, Peder Broms, and Valentin Gönczy, who arrived at the idea after interviewing hundreds of installers across Europe and hearing the same frustrations: fragmented software stacks, manual processes, and limited access to project financing. They saw a structural gap in the energy transition; demand for decentralised power had surged, but the financing and platform infrastructure to scale it weren't keeping pace."
Cloover raised €18.8 million in Series A equity and secured a €1.02 billion debt facility to finance customer and installer projects across Europe, supported by a €300 million EIF guarantee. The equity round was led by MMC Ventures and QED Investors with participation from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec, and Earthshot Ventures. The debt facility will be deployed through Cloover's platform to enable low-cost lending for solar panels, batteries, heat pumps, and other distributed energy technologies. Cloover was founded in 2023 after founders identified fragmented software, manual processes, and limited project financing for installers.
Read at TNW | Investors-Funding
Unable to calculate read time
Collection
[
|
...
]