German Green Fintech Cloover Secures $1.22 Billion in Home Clean Energy Bid

When Berlin-based green fintech startup Cloover announced it had secured €1.04 billion ($1.22 billion) in funding in one of the largest financing packages for a European climate fintech to date, the news signals a rebound of investor interest in green finance following more than a year of waning investor interest.

Cloover, founded in 2022, describes itself as an ‘AI operating system for the energy sector’ by targeting the ongoing bottleneck in the bloc’s push for residential clean energy solutions—the fragmented and underfinanced network of local installers. The company’s platform has also been described as ‘Shopify for Energy’, because it brings together everything that small renewable energy installers need, such as financing, workflow management, procurement, and energy optimization tools.

As a climate fintech providing software and embedded financial services to renewable energy firms, Cloover aims to simplify project delivery and offer more competitive financing for end customers. The company hopes to help households in Germany and beyond adopt clean energy systems without the typically excessive upfront costs, thus allowing homeowners to repay over time using energy savings and available subsidies.

The funding round consists of a $1.2 billion debt facility provided by a leading European bank that will directly fund customer loans and leases delivered through the platform, as well as a $22 million Series A equity round led by MMC Ventures and QED Investors. Notably, the European Investment Fund (EIF) is also backing Cloover with a $350 million guarantee in a substantial vote of confidence by a public institution in the startup’s credit model.

It’s also significant that QED Investors is a U.S.-based fintech venture firm. Under the current climate-skeptic Trump administration, sustainability initiatives have faced backlash and policy headwinds that have encouraged some venture capital firms to pull back from domestic ESG investments, and in some cases, shift their focus to overseas companies. Clearly, there is still an appetite for green business models that are linked to asset-backed consumer finance rather than software margins alone.

For sustainable fintech overall, Cloover’s announcement shows that embedded finance is expanding beyond e-commerce into infrastructure-like consumer categories and debt-first capital structures that allow startups to scale faster than equity alone, provided they have robust underwriting. In practical terms, this points to new opportunities for fintechs in areas like energy-transition lending, securitization-ready portfolios, and compliance-by-design underwriting—all areas that matter to both North American and European businesses and consumers.