Sunlight Financial is a technology-enabled finance company that provides point-of-sale consumer loans for residential solar, batteries and roofing through partnerships with installers, distributors and sales organizations nationwide. Its platform includes an intuitive installer portal and robust APIs designed to enable a fast, frictionless point-of-sale process for homeowners and partners. The company positions itself as an originator of high-quality assets and has secured more than $1 billion of capital for loans to homeowners. Sunlight aims to expand its product suite, enhance its technology platform, add strategic partners, and deepen existing partnerships to support growth in solar and adjacent home-improvement financing. Management describes the company as the fastest growing solar financing provider nationwide and emphasizes opportunities driven by the roughly $60 billion solar and energy-efficiency market. Sunlight Financial originates and finances loans for residential solar installations, positioning itself as a lender in the shift from third‑party leases toward solar loans and cash purchases. The company announced an additional $225 million capital raise to support loan originations and expects to finance more than 9,000 homes with that capital, at roughly $25,000 per loan. Using the U.S. average system size of about 5.7 kW-DC, the article estimates an implied all‑in cost of roughly $4.40/W for the loans Sunlight finances. EnergySage data show Sunlight breaking into the top 10 loan providers by market share. The company has grown through several large financings since 2015 to support nationwide expansion and to capture demand as the market shifts away from leases. No revenue or user counts were reported in the article. Sunlight Financial provides loan products and an online platform that enables homeowners to apply for credit and sign loan documents for residential solar systems. The company partners with solar installers, sales organizations and equipment distributors nationwide to simplify and streamline lending for system ownership. Its platform is used by installers and sales teams to offer loans to homeowners across the United States. Sunlight emphasizes capital markets expertise, risk management and consumer credit experience to support installer partners. The company plans to introduce new financing products, expand its Charlotte operations center, and partner with additional solar installers as part of its growth strategy. Financially, Sunlight has secured a $130 million commitment from Route 66 Ventures to support its expansion and product development. Sunlight Financial provides long-term loans to finance the installation of residential rooftop solar systems through market-leading installers and large equipment distributors. The company offers a broad suite of loan products aimed at channel partners and homeowners and emphasizes cost-effective capital and robust service offerings to scale with installers. Its strategy is to grow with several installers to minimize customer acquisition costs and overhead while expanding distribution. Sunlight recently secured $300 million in capital commitments to expand its business platform and increase access to lower-cost financing for residential rooftop solar assets. Management states the capital will be used to deploy loans and enhance product offerings to better serve customers and channel partners. Leadership changes tied to the financing include Neil Z. Auerbach becoming executive chairman while CEO Matthew R. Potere will continue to lead the executive team and hold a board seat.

Total raised

$660M

Funding rounds

6

Latest round

Equity

Latest activity

Jun 2018