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11 April 2024·2 min read

Dara Kachinska

News Editor, Vestbee

German climate tech Zolar raises $100M to initiate a new financial solution for solar

A digital platform called Zolar that provides solar panels to consumers and offers them installment loans raised $100 million from BNP Paribas, a global financial institution based in France, as Sifted informed. The proceeds will support the launch of Zolar’s financial solution, “zolar Easypay”. 

  • Zolar was founded in 2016 by Alex Melzer and Gregor Loukidis and is based in Berlin. Through an easy-to-use internet platform, the company offers solar solutions to homeowners and local dealers. The goal of Zolar is to provide people with access to inexpensive, clean energy resources while also improving climate protection. 
  • At this moment, Zolar has total funding of close to $300 million and aims to provide renewable energy to over 10 million households throughout Europe. To add more, Zolar is one of the biggest solar startups in Europe and the oldest of a group of German businesses that provide clients with solar panels and other energy technology, Sifted writes.
  • BNP Paribas is a European top bank that was founded in 1848. With more than 190,000 workers, including more than 145,000 in Europe, it operates in 65 countries. 

 “We are proud to support Zolar in their mission of making renewable energy easy and accessible for everyone. BNP Paribas is committed to financing the green transition, and we are excited to contribute our expertise in developing this new asset class in Europe,” Manish Chandra, Head of ABS Markets and Financing at BNP Paribas, stated.

  • Due to this funding, Zolar is able to launch its new financial solution, “zolar Easypay”. By using this service, users can secure their solar systems with a €0 deposit. Startup’s online configurator makes it simple to choose an installment plan and provides customers with a predicted monthly payment amount.

 “This new offering represents a pivotal milestone for zolar and the consumers we serve. As the residential solar market matures, the demand for innovative financing solutions has never been more apparent. We are excited to lead this transformation with zolar Easypay, offering unparalleled value to our customers,” said Jamie Heywood, Zolar’s CEO.

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