Cloover, a Berlin-based climate tech company, has raised more than $1.2 billion to help European households cut emissions.
The company sells software to installers of rooftop solar, home batteries, heat pumps, and other residential clean-energy tech. It also helps homeowners finance purchases and optimize energy usage.
Cloover currently operates in Germany and four other European countries. It says the new mix of debt and equity will fund expansion into additional markets, including France and Italy, and support new software services such as product procurement for installers.
Improving financing is “the only way to make the energy transition a reality,” said Jodok Betschart, Cloover’s co-founder and co-chief executive officer. He pointed to a market dominated by small installation companies that often can’t offer financing when homeowners are reluctant to make lump-sum payments.
The raise lands as EU residential solar demand has cooled amid reduced subsidies, economic uncertainty, and high interest rates. Fewer than 10 gigawatts of solar home systems were added in 2025, down almost 30% from the prior year, according to a December report from SolarPower Europe cited in the article.
Despite the dip, Lowercarbon Capital partner Shawn Xu said demand for lower utility bills remains, and that financing can help unlock more adoption. By offering financing, Cloover can work as “an accelerant” to enable more people to decarbonize their homes, Xu said.
Cloover’s round includes $22 million of equity from venture firms including Lowercarbon Capital and Bosch Ventures, plus $1.2 billion of debt from an unnamed European bank.
Betschart said the company has financed roughly $100 million worth of green home assets since its 2023 founding, became profitable last year, and aims to increase revenue fivefold to about $500 million in 2026.
