Sunlight Financial, a leading provider of loans for residential solar systems, announced a new partnership with Route 66 Ventures, a private investment firm that makes credit and equity investments in high-growth companies in the financial services sector. Route 66 has committed $130 million to Sunlight. This investment will allow Sunlight to introduce new financing products, expand its Charlotte operations center and partner with additional solar installers.
“Route 66’s investment will accelerate Sunlight’s already rapid growth,” said Rob Peterson, a General Partner at Route 66. “We are impressed by Sunlight’s long-term perspective and experienced leadership team, which has deep expertise in both consumer credit and residential solar. Route 66 is excited to partner with Sunlight and help homeowners save money.”
Sunlight Financial’s wide range of loan products facilitates a homeowner’s decision to go solar. Solar installers and sales organizations nationwide access Sunlight’s products via an easy-to-use online platform, through which homeowners can apply for credit and sign loan documents.
“Loans have quickly become the preferred financing option for homeowners that choose to save money with rooftop solar,” said Matt Potere, CEO of Sunlight Financial. “In a fast-growing and fast-changing market, installers need a stable and strategic financing partner for the long-term. Route 66’s investment validates Sunlight’s unique combination of capital markets, risk management and residential solar expertise and supports our continued expansion throughout the United States.”
News item from Sunlight Financial