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29.05.2024 | Tech and Business News

$114M Boost for Cloover’s Solar Financing Plans

Cloover Management: Valentin Gönczy, Jodok Betschart and Peder Broms.

Cloover Management: Valentin Gönczy, Jodok Betschart and Peder Broms. - (c) Cloover

Berlin-based green fintech Cloover has secured $114 million in a new funding round, with prominent investor Chris Sacca joining through his fund Lowercarbon Capital. Existing investors 9900 Capital and QED also contributed. Cloover plans to double its software development for installers and expand its sales, payment, and financing services, as stated in the press release.

Cloover collaborates with partner businesses to offer financing solutions for customers, including interest-free installment payments, leasing, loans, and service packages for system maintenance. Customers can opt for installment plans facilitated by Cloover, which simplifies the process and offers immediate loan access.

Originating from Sweden, Cloover now focuses on the German market with a Berlin headquarters and plans to grow its team to 40 employees by year-end. With 100 partner companies already, including 4Panels, Cloover supports the installation of solar panels, battery storage, and heat pumps.

The company is evaluating expansion into Spain, France, and the UK, aiming to aid households in transitioning to renewable energy while simplifying the sales process for businesses.

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