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Cloover, a startup that offers software and financing for home energy systems in Europe, raised over US$1.2 billion in debt and equity.

Why it matters: European homeowners continue to adopt solar, batteries and heat pumps, as the continent looks to reduce its usage of Russian gas. 

Zoom in: Cloover closed $22 million in Series A equity financing alongside a $1.2 billion debt facility to finance solar, batteries and heat pump installations. 

The equity round was led by MMC Ventures and QED Investors, and included Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec, and Earthshot Ventures.

Cloover says the debt came from a "European bank," but declined to name the firm. 

The Berlin-based company plans to spend the equity on building out its energy product and expanding into new markets, says Cloover co-CEO Jodok Betschart. 

Catch up quick: Cloover works with small and medium-sized solar installers, helping local solar businesses across Europe compete with larger installers like Enpal, and 1KOMMA5.

The company, founded in 2023, raised $114 million in equity and debt financing led by Lowercarbon Capital in 2024.

Follow the money: Cloover says the company is profitable and grew its top line revenue by more than 8 times in 2025 to close to $100 million.

The company is projecting top line revenue of $500 million in 2026 and $1 billion in 2027.

Cloover co-CEO and CFO Peder Broms says the company is considering securitizations of its energy assets, similar to how others have done.

The big picture: Strong mandates and incentives are driving the growth of residential solar in European countries like Germany.

Some investors that see declining clean energy subsidies in the U.S. are increasingly interested in Europe. 

What's next: Cloover launched in Austria in December, and says its looking to add one or two more markets this year, potentially France, UK, or Italy.

Cloover raises over $1.2B for home solar in Europe

The Berlin startup says it saw sales of close to $100M in 2025.

Illustration of an array of solar panels with the cells arranged in a dollar sign shape.

Cloover, a startup that offers software and financing for home energy systems in Europe, raised over US$1.2 billion in debt and equity.Why it matters: European homeowners continue to adopt solar, batteries and heat pumps, as the continent looks to reduce its usage <a class="gtmContentClick" data-vars-link-text="of Russian gas" data-vars-click-url="https://www.forbes.com/sites/marktemnycky/2026/01/07/europe-moves-to-phase-out-russian-lng-by-the-end-of-2026/" data-vars-content-id="7c10b46c-5bfe-451f-bc8d-1a30479b507c" data-vars-headline="Cloover raises over $1.2B for home solar in Europe" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.forbes.com/sites/marktemnycky/2026/01/07/europe-moves-to-phase-out-russian-lng-by-the-end-of-2026/" target="_blank">of Russian gas</a>.

Cloover raises over $1.2B for home solar in Europe

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