Enapl closes Series C for its Solar-as-a-Service model with 150 €million

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Berlin-based solar startup Enpal, which is using artificial intelligence for the provisioning and installation of solar power systems, offering their customers a subscription style model to pay for, has raised 150 million in a Series C funding round from Softbank Vision Fund 2. This investment brings the company’s valuation at 950 million. Enpal has raised a total of more than 615 million in debt and equity to date.

Founded in 2017 by Jochen Ziervogel and Viktor Wingert, Enpal is trying to build the largest energy company of our century with 100% renewable and decentralized. With their product already enabling customers to reduce their electricity expenditure through a solar system using an IoT app to take energy measurements. In simple, homeowners are only paying for renting the solar panels, their installation, maintenance and repair with a minimum 20-year contract.

Although the company hasn’t showed any profitability yet, its CEO Mario Kohle is more than sure that will beno problem in no time, based on Enpal’s Solar-aaS model. “We have a positive contribution margin from the beginning.” commented Kohle. “That’s something the customers are paying, and it means we are cash flow positive from the beginning. And what customers like is that they are paying less and getting a solar system for free.”

The company is already counting more than 10,000 customers in Germany, and has plans on keep expanding within its home market, as well as trying new ones. Kohle said their goal is to make using renewable energy a realistic option for everyone and everything.

Managing partner for SoftBank Investment Advisers Yanni Pipilis commented: “Rising electricity prices and increasing demand mean renewable energy adoption is rapidly becoming mainstream. We believe Enpal offers customers an all-in-one solar solution, lowering the barriers to entry for consumers. It’s great to be working with Mario and the Enpal team to make more households energy independent.”

Source: TechCrunch “Enpal closes out Series C with $174M from SoftBank for tech to make it easier for homeowners to make the switch to solar energy”

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