Cloover

Climate Tech · Fintech · Energy

Milestone

Berlin's Cloover turns profitable, secures $100M financing facility

The Berlin startup pools financed home solar and heat-pump systems into a virtual power plant that trades flexibility in real time.

• Cloover, a Berlin-based residential energy financing platform, turned profitable three years after launching, reaching a revenue run rate above $350M, and secured a new $100M financing facility.
• The company embeds financing directly at the point of sale for independent installers, letting homeowners get a decision on solar, heat pump or electrification loans in under two minutes with no upfront cost.
• The new facility lifts Cloover's total financing capacity to more than $1.3B and is backed in part by a guarantee from the European Investment Fund, following a $1.2B debt-and-equity package the company closed in January 2026.
• Cloover completes around 20,000 residential installations a year across five European markets, working through independent installers who serve roughly 85% of the residential energy market.
• Financed solar, heat pump and storage systems are pooled into a virtual power plant that forecasts each household's generation and consumption, then trades the flexibility in intraday markets and grid services.
• Reaching profitability at this scale is rare in capital-intensive climate tech, where rivals like Enpal and 1KOMMA5° have prioritized growth over margin, making Cloover's model a test case for the sector.