Brazil-based Solfácil, a Fintech agency targeted on serving to with financing the set up of photo voltaic panels in houses, is reportedly trying to develop its operations after buying extra funding.
In statements shared with BNamericas, Fábio Carrara, the founder and CEO, acknowledged that the corporate is presently targeted on financing tasks that contain putting in photo voltaic panels in peoples’ houses. Carrara mentioned that this helps clients with lowering their electrical energy invoice.
Carrara famous that the capital raised might be used to create fee plans that supply financing choices to SMEs.
Carrara’s buyers embody Valor Capital Group, which has made strategic investments in established Brazilian firms similar to Stone, Gympass and Loft. A number of angel buyers additionally took half within the agency’s $four million funding spherical.
Earlier this 12 months, the Fintech firm additionally acquired round $23 million in capital via debt financing. It’s now planning to safe extra funding by September 2020.
Solely round 0.3% of Brazilian households are utilizing some kind of photo voltaic vitality answer, in the meantime, about 20% of Australian houses and three% of US houses have invested in solar energy.
Carrara mentioned that, for now, the corporate gained’t be trying to enter new markets, exterior of Brazil. Nevertheless, he believes that Mexico could possibly be an ideal marketplace for replicating the agency’s enterprise model sooner or later.
The Fintech agency has a loan portfolio of 50 million Brazilian reais (appr. $9.5 million), which it expects to surpass 350 million reais within the coming 12 months. Solfácil presents loans for as much as a 120 month interval.
Carrara claims that the corporate gained’t compete with native banks, as a result of they’re unable to supply credit score for greater than 5 years or 60 months. He additionally claims that Brazilian banks don’t have credit score specialists who’re as skilled as professionals working at Solfácil.