Cloover secures funding for renewable energy fintech solutions

Cloover, a climate-focused fintech company headquartered in Berlin, has successfully raised €7 million in pre-seed funding. This funding 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 offers a solution enabling renewable energy companies to provide subscription services, plans to utilise the funding to advance the development of its platform and offerings. Additionally, it aims to initiate operations in Germany and expand further across Europe.

Founded by Betschart, Peder Broms, co-CEO & CFO, Tony Kirmo, CRO and Valentin Gönzcy, CPO, the platform’s future objectives encompass establishing a decentralised network that incorporates solar, battery storage, EV charging, and heating pump assets. This network will coordinate support for local communities and enhance the national grid infrastructure throughout 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.

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