Enpal could double its valuation in new financing round

The solar rental company aims to turn a profit for the first time in 2022. However, the start-up needs fresh capital for its rapid growth.

The Berlin-based solar start-up Enpal could double its own valuation in its upcoming financing round. The company's order books are full due to the energy crisis. As the Handelsblatt reports, Enpal is currently talking to investors in order to raise around 150 million euros in additional capital. This is intended to finance the company's rapid growth.

At the end of last year, Enpal was valued at more than one billion dollars, making it the first German unicorn in the renewable energy sector. According to Handelsblatt, the new financing round could double the valuation. Enpal would not comment on this.

Founded in 2017, the start-up rents out solar systems and batteries for a term of up to 20 years. After that, customers can take over the systems at a reasonable price. The company currently equips around 25,000 households. For 2022, it expects turnover of 380 to 440 million euros and hopes to make a profit for the first time this year.