Enpal could double valuation in new funding round

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

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

At the end of last year, Enpal was valued at more than $1 billion, earning it status as Germany's first renewable energy unicorn. With the new round of financing, a doubling of the valuation could be on the cards, according to Handelsblatt. Enpal would not comment on the matter, he said.

The startup, founded in 2017, leases solar systems and batteries for up to 20 years. After that, customers can take over the systems at a low cost. Currently, the company equips around 25,000 households. For 2022, it expects sales of 380 to 440 million euros and hopes to make its first profit this year.