Berlin-based climate fintech Cloover has secured €7 million in Pre-seed funding. The round was led by 9900 Capital and includes participation from QED, Broadhaven Ventures, Index Ventures' Scout Fund, Centrotec and angel investors.
“Their investment is a vote of confidence in our business model and our vision of connecting one billion people to renewable energy,” says Jodok Betschart, Cloover co-CEO.
The fintech platform which provides a solution for renewable energy companies to offer subscription services will use the funding to further develop the platform and offering, launch in Germany and continue further expansion across Europe.
Founded by Betschart, Peder Broms, co-CEO & CFO, Tony Kirmo, CRO and Valentin Gönzcy, CPO, future plans for the platform include building a decentralised network of solar, battery storage, EV charging and heating pump assets coordinating support for local communities and the national grid infrastructure across Europe.
“We plan to establish a connected network of independent power providers, driving the decentralisation of energy production and fostering sustainable, resilient communities -- which is of great importance in the current political and economic climate. By harnessing renewable energy sources at a local level, the plan is to help reduce the overall carbon footprint while creating a more reliable and cost-effective energy ecosystem," says Betschart.
Lead image: Cloover founding team. Photo: Uncredited.