Cloover receives $114 million for connecting 1 billion people to renewable energy.
The Berlin-based start-up Cloover has secured a significant seed round of USD 114 million to drive the growth of its operating system for the renewable energy industry. The company connects all key players in the energy transition—installers, prosumers, manufacturers, utilities, and investors—through its software, financing, and energy solutions. The funding round is led by Lowercarbon Capital, founded by renowned venture capitalist Chris Sacca, and is supported by existing investors 9900 Capital and QED. This oversubscribed round highlights the team’s momentum and investors’ confidence in the business model, even amid economic challenges.
“Cloover’s vision is to break down the silos between the main players that are essential for a successful energy transition. By simplifying the sales process for installers, managing payment flows and financing, sourcing the required materials, and monitoring energy generation and consumption for households, Cloover connects the dots and leverages synergies across the entire value chain,” explains Jodok Betschart, co-founder and CEO of Cloover.
Cloover’s founding team consists of industry veterans, including Jodok Betschart (Co-CEO), an experienced tech entrepreneur; Peder Broms (Co-CEO & CFO), who has more than a decade of experience in structured finance; and Valentin Gönczy (CPO), an experienced SaaS expert responsible for software development at Cloover.
With the fresh capital, Cloover will double its software development for installers and further expand its sales, payments, and financing offering. “The prevailing attitude in the industry has been to hold back on innovation and allow larger companies to refine their operations and growth. But to reach Net Zero, there is no time to delay progress, especially since more than 85% of all installations are still carried out by SME installers. Our software gives this target group the same sophisticated digital tools that have long been available to large companies—so they can compete on equal footing and accelerate the adoption of sustainable energy,” says Valentin Gönczy, co-founder and CPO of Cloover, underscoring the strategic focus on creating a level playing field.
Peder Broms, co-founder and CEO, adds: “We are bringing renewable energy to the remaining mass market in Europe—160 million households that are still left out. By combining our own data on consumers’ energy savings with various sources of capital, we are able to extend financing to households that previously had no access to these systems. In addition, Cloover’s partners can free up working capital for their operations via our platform, enabling even faster expansion of renewable energy in Europe.”
To meet the EU target of 42.5% renewables in energy generation by 2030, investments of EUR 800 billion per year are required—yet only half of that is currently being deployed. The residential renewable energy sector has grown by 20% annually over the past decade, driven by higher energy prices, increased electrification, and rising consumer awareness. However, to reach the remaining 80% of households, installers need new tools—which Cloover aims to provide.
“Cloover’s technology and financing capabilities offer installers the fastest possible path to powering 200 million households in Europe,” says Shawn Xu, partner at Lowercarbon Capital.
With several hundred partners across Europe representing a revenue pipeline of more than USD 3 billion, Cloover has already demonstrated strong traction in the renewable energy space. This success is underscored by partner experiences such as 4Panels, a Berlin-based solar installation company. “Since our company started using Cloover’s software and financing options, we’ve seen a 26% increase in closed deals, while reducing the time from quote to close from five weeks to less than two weeks. For us, Cloover is a key pillar for the success of our daily work and our long-term growth,” says Pedram Ghassim, owner of the Berlin solar installation company 4Panels.
Looking ahead, Cloover is working to redefine the industry landscape, with the goal of connecting 1 billion people to renewable energy. The company’s strategy focuses on bridging gaps between stakeholders and using technology and capital to increase access and efficiency. Committed to sustainability and excellence, Cloover aims to surpass the EU’s ambitious renewable energy targets and help pave the way toward a cleaner future for everyone.