New York-based CleanCapital, an online marketplace for renewable energy investing, has closed its Series A with a total investment of $3.7 million. This investment came from 50 investors including cleantech leaders and SeedInvest’s Selections Fund.
"There is a sizeable opportunity to provide investors with access to new types of alternative investments and we were impressed with CleanCapital’s solar platform," stated Ryan Feit, SeedInvest CEO and Co-Founder. "Our Selections Fund invests alongside our broader investor base in some of the most promising companies on our platform and we were excited to back CleanCapital," he continued.
Over the past five years, the solar market has grown an average rate of 72% per year. CleanCapital connects investors with solar portfolios of projects across the United States and to date has financed more than 20 MW in operating solar assets. The typical timeline for new entrants to source, evaluate, underwrite, and close clean energy projects can take up to a year. CleanCapital has succeeded in significantly reducing the timeline on transactions.
“To accelerate clean energy growth we need to create a marketplace that provides all investors with simpler, understandable ways to invest in this asset class. We are thrilled that SeedInvest recognizes the value CleanCapital brings to the clean energy marketplace," said Thomas Byrne, Co-founder and CEO of CleanCapital. “CleanCapital is committed to attracting more investors to the space by creating a new marketplace for clean energy, one that is driven by transparency, efficiency, and accessibility.”