What is Cleanfund?
Cleanfund specializes in Property Assessed Clean Energy (PACE) financing, focusing on commercial properties across California and the nation. The company offers a unique financing solution that enables commercial property owners to fund energy efficiency and renewable energy improvements without impacting their existing mortgage. Repayments are integrated into property tax assessments over an extended period. Cleanfund's services are designed to benefit lenders, real estate developers, and municipalities by enhancing property value and contributing to environmental sustainability goals. Their model provides 100% financing for eligible projects, aiming to deliver substantial energy savings and improved cash flow for property owners.
How much funding has Cleanfund raised?
Cleanfund has raised a total of $80M across 3 funding rounds:
Series A
$5M
Unspecified
$60M
Series B
$15M
Series A (2015): $5M, investors not publicly disclosed
Unspecified (2015): $60M, investors not publicly disclosed
Series B (2017): $15M, investors not publicly disclosed
What's next for Cleanfund?
The substantial enterprise-level funding indicates Cleanfund is poised for significant scaling and market expansion. This capital injection will likely be directed towards enhancing their technological infrastructure, broadening their service offerings, and increasing their market penetration within the commercial PACE financing sector. Strategic investments in sales and marketing are anticipated to further solidify their position as a leader in sustainable property finance, potentially exploring new geographic markets or expanding their suite of green financing solutions.
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