Cloover raises €7 million in oversubscribed pre-seed investment round

Cloover has raised €7 million in a pre-seed investment round to make renewable energy more accessible to one billion people. The climate fintech company enables financing options for technology providers and plans to expand across Europe.

Cloover, a climate fintech company, has successfully closed a €7 million pre-seed investment round. This funding round was led by 9900 Capital, a firm with investment experience in the Gates Foundation and Hedosophia. Other investors, including QED, Broadhaven Ventures, Index Ventures' Scout Fund, Centrotec and experienced climate and fintech investors, also participated.

We are delighted to have the support and backing of experienced climate and fintech investors who share our passion for using innovative financial technology services to accelerate the energy transition and make a significant contribution to climate change.

Jodok Betschart, Co-Founder & CEO Cloover

The newly raised funds will be used to improve Cloover's software platform, expand its service offering and launch the company in Germany and the Netherlands. The long-term plan is to expand across Europe with the ambitious goal of supplying one billion people with renewable energy.

Cloover was launched by a founding team of four entrepreneurs with an impressive 40+ years of experience in finance and technology. Having previously built successful software and fintech start-ups, they are now dedicated to making renewable energy more affordable and accessible to a wider population.

Peder Broms, co-founder and CEO of Cloover, emphasizes the challenges that renewable energy brings with it: Renewable energy technologies are central to achieving net zero emissions, he says. However, they require significant capital investment and are often complex. This makes access to finance difficult for manufacturers, suppliers and end customers.

By removing capital constraints and enabling risk sharing across the value chain, we can achieve our goal of making sustainable finance simpler, faster and more affordable.

Peder Broms, Co-Founder & CEO of Cloover

Cloover's platform enables renewable energy technology providers to offer customized financing options to their customers while efficiently managing their own working capital. This facilitates the transition to renewable energy for individuals and businesses in a low-cost, low-risk way.

Cloover also has ambitious plans to build a network of decentralized installations for solar energy, battery storage, electric vehicle charging stations and heat pumps. This approach aims to reduce the carbon footprint and establish a reliable and cost-effective energy ecosystem, which is important given the current climate change challenges.