Zolar receives credit line of 20 million euros
The Berlin-based start-up rents out photovoltaic systems and has now received a credit line of 20 million euros via a special purpose vehicle (SVP).
Sustainable living 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 funding. The money is to be used for growth and expansion into other markets. According to information from the portal Tech EU the financing was made possible via a special purpose vehicle (SVP) from Berliner Volksbank.
Gregor Loukidis and Alex Melzer founded the start-up in 2016, and the Berlin-based company closed a financing round of 35 million euros in March. Zolar offers solar systems at a fixed price, with the start-up taking care of the installation and customization 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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