June 6, 2018
FTV Capital Makes Growth Equity Investment in Technology-Enabled Specialty Finance Leader Sunlight Financial
Fast Growing Specialty Finance Company Simplifies Homeowner Purchases of Solar Systems, Batteries and Roofs
NEW YORK, N.Y. and CHARLOTTE, N.C. –(BUSINESS WIRE)– June 6, 2018 — Sunlight Financial, a technology-enabled finance company providing point-of-sale financing solutions, today announced that it has raised a $50 million investment from FTV Capital, a growth equity investor. Sunlight Financial will use the proceeds to expand its product suite, enhance its technology platform, add strategic partners, and deepen existing partnerships with companies that offer affordable loans for home improvement upgrades, including the installation of solar systems, batteries and roofs. As part of the transaction, FTV Capital managing partner Brad Bernstein and vice president Mike Vostrizansky have joined the company’s board of directors.
Sunlight Financial partners with solar, battery and roofing companies nationwide to make available a broad suite of competitively priced, thoughtfully structured consumer loans. The company’s best-in-class technology includes an intuitive installer portal and robust APIs that enable a fast and frictionless point-of-sale process for both homeowners and strategic partners. An attractive originator of high quality assets, Sunlight Financial has secured more than $1 billion of capital for loans to homeowners, as solar ownership has overtaken leasing and the $60 billion solar and energy efficiency market continues to grow.
“We are very excited to partner with FTV Capital as we embark on our next phase of growth and enhance our already differentiated product and platform to meet the needs of both homeowners and our strategic partners,” said Matt Potere, CEO of Sunlight Financial. “For the past two decades, FTV has helped high-growth companies scale successfully, and its investment affirms Sunlight’s position as a leading specialty finance company and the fastest growing solar financing provider nationwide. In addition to its proven growth equity track record, FTV brings access to potential future capital providers through its Global Partner Network®.”
“The team at Sunlight Financial has leveraged their deep credit expertise and technical acumen to develop a leading-edge platform that accelerates the purchase, sale and installation of residential solar systems, batteries and roofs,” explained Brad Bernstein, managing partner at FTV Capital. “Sunlight Financial thoughtfully built its robust platform to support expansion into adjacent products and markets, creating significant opportunities to build on the company’s success in solar. FTV is thrilled to be able to support Sunlight in its next exciting stage of growth.”
Emil W. Henry, Jr., CEO of Tiger Infrastructure, Sunlight’s largest shareholder, added, “FTV’s investment cements Sunlight’s position as the leading finance company enabling the dramatic growth of U.S. distributed renewable generation and energy storage infrastructure. We welcome Brad and Mike to the Sunlight board and know that they will bring added expertise to help facilitate Sunlight’s next stage of growth as they have many times previously.”
About Sunlight Financial
Sunlight Financial is a leading national platform for residential solar and energy storage lending. The company partners with solar and battery installers, equipment distributors and sales organizations nationwide to help homeowners save money. Sunlight’s best in class technology and deep credit expertise simplify and streamline consumer finance, enabling solar companies to quickly provide homeowners with opportunities for economic savings and environmental benefits. For more information, visit www.sunlightfinancial.com.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised over $2.7 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology & services, financial services and payments & transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 101 portfolio companies including technology-enable specialty finance companies such as Health Credit Services and Castle Pines Capital (acquired by Wells Fargo in 2011). FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.
About Tiger Infrastructure
Tiger Infrastructure Partners is a middle-market private equity firm that invests in growing infrastructure platforms. Tiger Infrastructure targets investments in communications, energy, transportation, and related sectors, primarily located in North America and Europe. For more information, visit www.tigerinfrastructure.com/.Back to all