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The Solar Energy Fintech Solfácil, Which Is Among the Three Largest in Brazil, Received an Investment from the American Fund QED of R$ 160 Million to Invest in New Technologies
This Wednesday (23), the fintech Solfácil announced that it received an investment of R$ 160 million in the Series B round, which is led by the North American venture capital fund, QED Investors. A large part of the amount will be invested to improve the quality of the solar energy company’s service to its buyers.
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Solfácil’s goal with the investment is to apply funds in technology to expand and enhance its financing lines, doubling its partner network from 5,000 to 10,000, and, in addition, launching a solar energy line for agribusiness.
The solar energy fintech aims to join names like Creditas, Nubank, Loft, or Quinto Andar, which also received investments from QED, founded by Nigel Morris, who is also the founder of Capital One, a major U.S. credit card company.
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According to Solfácil’s CEO and founder, Fábio Carrara, QED is one of the largest investors in fintechs globally and will bring significant know-how to make Solfácil a leading brand in technology and financing for solar energy in distributed generation in Brazil.
The Growth of the Solar Energy Fintech in the Brazilian Market
Fábio states that the Series B round investment results from the company’s rapid growth, which grew more than 20 times in the last year, placing it among the three largest credit fintechs in the country.
The fintech that received the investment offers financing terms of up to 120 months, competitive interest rates, grace periods of 6 months, and, in addition, a Distributed Generation system that provides a return on the invested money.
According to Fábio, the goal is to continue investing in services that boost the sales of its solar energy integration partners and make Solfácil’s management base more concrete to continue growing in Brazil alongside more than 20,000 integrators, who will play a crucial role in the green recovery and also in generating various job opportunities and disseminating technology across various regions of Brazil.
The Goals of Solfácil for 2021
With some changes ahead in the financing product, the fintech estimates reaching a value of R$ 1 billion in financing this year alone, and R$ 2.5 billion in 2022, due to its investment in new technologies and its constant growth in the solar energy sector, which is at 170% per year.
To meet this demand, Solfácil is considering increasing its staff from 215 to 460 employees by December of next year, including new sales and marketing specialists.
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