Zolar receives credit line of 20 million euros

The Berlin-based start-up rents out photovoltaic systems, and has now received a €20 million line of credit via a special purpose vehicle (SVP).

Living sustainably is not cheap. If you want to install a photovoltaic system on your roof, you have to pay a lot of money. The start-up Zolar wants to make this cheaper and offers solar systems for rent. The Berlin-based company has now secured 20 million euros in financing. The money is to be used for growth and an expansion into further markets. According to information from the portal Tech EU the financing was made possible by a special purpose vehicle (SVP) of the Berliner Volksbank.

Gregor Loukidis and Alex Melzer founded the start-up in 2016, and in March the Berlin-based company already closed a €35 million financing round. Zolar offers solar systems at a fixed price, the start-up takes care of the installation and an individual adjustment of the systems. After 20 years, the monthly fee pays for itself and homeowners can buy the system from the start-up for one euro.

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Startup 2016 Berlin zolar Photovoltaic systems at a fixed price, including consultation, planning and installation.

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