Clean Power Finance Raises $37 Million in Growth Equity from Strategic
Investors to Capitalize on Distributed Solar Finance Momentum
SAN FRANCISCO -- April 8, 2013
Clean Power Finance (CPF) today announced it has closed a $37MM round of
growth equity from strategic and existing investors. CPF provides the CPF
Market™, the online business-to-business marketplace for distributed solar
financing, and CPF Tools™, the leading solar sales SaaS application.
“We grew revenue by 325 percent last year. Our fast-growing market share and
strong momentum across all areas of the business attracted power company
investors that recognize the value of our solar marketplace business model,”
said Nat Kreamer, CEO of Clean Power Finance.
“Clean Power Finance provides outstanding services to both solar investors and
solar professionals and makes distributed solar an attractive investment,”
said Bert Valdman, SVP of strategic planning at Edison International. “We
expect distributed solar to play a growing role in our energy future. CPF’s
industry leadership makes it a natural investment in this rapidly expanding
Clean Power Finance has the most flexible business model in the residential
solar finance industry. As a white-label software and financial services
provider, CPF works with companies in all parts of the solar industry,
including power companies, investors, installers, marketers, and suppliers.
CPF currently manages more than half a billion dollars in project financing on
behalf of third-party corporate and institutional investors, which include,
among others, corporate investors like Google Inc. and institutional investors
like Morgan Stanley, as well as a top-ten U.S. utility holding company.
“We are extremely excited to have Clean Power Finance in the portfolio. This
is not your typical capital-intensive ‘clean technology’ investment. CPF is a
traditional Silicon Valley enterprise software and financial service innovator
that boasts a low-cost, scalable business model and an unparalleled management
team,” said Joe Kraus, general partner at Google Ventures.
About Clean Power Finance
Clean Power Finance is driving the mass-market adoption of residential solar
with its online business-to-business marketplace, connecting the solar
industry and the capital markets. Clean Power Finance provides solar
professionals, including marketers, installers, manufacturers and
distributors, with access to a variety of 100% third-party owned,
non-exclusive, white-label residential finance products and an easy-to-use
solar sales quoting and design tool. The company makes it easy for financial
firms and lenders to invest in residential solar projects that provide
reliable rates of return. To learn more about Clean Power Finance, please
Clean Power Finance
Alison Mickey, 415-963-4319
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