Fintech Solfácil Secures R$ 4 Million In Capital To Help Finance Solar Energy

Written by Valdemar Medeiros

Published on 26/07/2020 at 16:25

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Fintech Solfácil Plans to Finance More Solar Energy Projects in Brazil

Solfácil, based in Brazil, is a Fintech company focused on helping finance the installation of solar panels in homes, and plans to expand its operations after securing additional funding for solar energy. In statements shared with BNamericas, Fábio Carrara, founder and CEO, stated that the company is currently focused on financing projects involving the installation of solar panels in people’s homes. Carrara said this helps customers reduce their electricity bills.

Carrara Noted That the Raised Capital Will Be Used to Create Payment Plans Offering Financing Options to SMEs

Investors in Carrara include Valor Capital Group, which has made strategic investments in established Brazilian companies such as Stone, Gympass, and Loft. Several angel investors also participated in the company’s $4 million funding round.

Earlier this year, the Fintech company also raised about $23 million in equity through debt financing. It is now planning to secure additional funding by September 2020.

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Furthermore, only about 0.3% of Brazilian households are using some type of solar energy solution, while around 20% of Australian households and 3% of U.S. households invest in solar energy.

Brazil Is the Main Focus of Investments in Solar Energy

Carrara stated that, for now, the company is not looking to enter new markets outside of Brazil. However, he believes that Mexico could be a significant market to replicate the company’s business model in the future.

Thus, the Fintech company has a loan portfolio of 50 million reais (approximately $9.5 million). It expects to exceed 350 million reais next year. Solfácil offers loans for up to a period of 120 months.

Finally, Carrara claims that the company will not compete with local banks, because they cannot offer credit for more than 5 years or 60 months. He also states that Brazilian banks do not have credit specialists as experienced as the professionals working at Solfácil.

Fintech Solfácil Secures R$ 4 Million In Capital To Help Finance Solar Energy

Fintech Solfácil Plans to Finance More Solar Energy Projects in Brazil

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Fintech Solfácil Secures R$ 4 Million In Capital To Help Finance Solar Energy

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