Climate fintech start-up Cloover secures $114m in seed funding round
Berlin-based climate fintech Cloover has bagged $114 million in a seed funding round, consisting of a mix of debt and equity financing.
Cloover’s co-founders Valentin Gönczy, Jodok Betschart and Peder Broms (Image: Cloover)
The round was led by US venture capital firm Lowercarbon Capital and further supported by previous backers QED Investors and 9900 Capital.
Announced via a post on LinkedIn, the start-up says the cash injection will be used to “enhance our operating system designed for the renewable energy industry”, with a focus on further developing its financing, sales, and payment services.
Founded in 2022, Cloover says its platform enables installers in the renewable energy industry – such as solar panel installers – to “improve their sales processes, manage their payments and financing options, procure materials, and oversee the energy production of their installations”, with the aim to “simplify operations for the whole renewables value chain”.
The company believes that achieving net-zero is impossible “if we do not solve the sustainable hardware financing issue”, and its platform looks to provide a plug-and-play solution for its partners offering various embedded financing services.
