Loanpal provides consumer finance for residential solar and battery installations, partnering with around 85% of the top solar firms as vendors. The company finances roughly $400 million a month for about 15,000 solar-plus-battery systems and has arranged $5.9 billion in consumer finance loans since launching in 2018. Loanpal is profitable, carries zero debt, and pays monthly dividends to financial backers. The business employs around 12,000 sales professionals and describes itself as a multi-billion dollar company. Leadership includes founder and CEO Hayes Barnard, formerly chief revenue officer at SolarCity. Management views adjacent markets—battery storage, smart thermostats and other sustainable home solutions—as interconnected opportunities as it seeks to penetrate a roughly $100 billion near-term market.

Total raised

$800M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2021