Cloover raises equity and debt to scale financing for residential energy installations in Europe
Cloover was founded in 2023 after its team researched how residential energy installers operate across Europe. They found that while demand for solar panels, batteries, and heat pumps was rising, the sector lacked the digital and financial infrastructure needed to scale. Installers often relied on fragmented software and manual processes, and households faced high upfront costs and limited access to suitable financing. Traditional banks, meanwhile, were not well suited to financing large volumes of small, decentralized energy assets.
Based in Berlin, the company develops software that integrates financing directly into installer workflows. Its platform allows installers to offer financing at the point of sale and manages processes such as credit assessment, subsidy pre-financing, and cash-flow management. It uses AI-based credit models that combine standard financial data with projected energy savings, and aggregates performance and impact data for institutional investors.
Today, the company announced it had raised €18.8 million ($22 million) in Series A equity funding and secured a €1.02 billion ($1.2 billion) debt facility, bringing total capital commitments to €1.04 billion ($1.22 billion). The equity round was led by MMC Ventures and QED Investors, while the debt facility—supported by a €300 million ($350 million) guarantee from the European Investment Fund—will be used to fund customer and installer financing on the platform. According to the company, the equity capital will be directed toward product development, including further AI-driven automation, and geographic expansion.
The company reported more than eightfold revenue growth in 2025 while remaining profitable, with revenue approaching €85.3 million ($100 million). It targets approximately €426.7 million ($500 million) in revenue in 2026 and nearly €850 million ($1 billion) in 2027, as it scales financing volumes and expands into additional European markets. The business currently operates in Germany, Switzerland, Sweden, and the Netherlands, and plans to enter France, Italy, the UK, and Austria.
Sources:
EU-Startups
Forbes
A.M.
