Enpal has received new money from investors to refinance existing loans – although the green tech start-up has recently been criticized.
The Berlin solar startup Enpal has secured new capital: A total of 430 million euros from old and new investors have been raised to refinance existing loans, as the company announced on Friday.
Accordingly, the existing investors ING Germany with 230 million euros and Blackrock with 100 million euros have increased their financing commitments. In addition, there are 100 million euros from the Frankfurt asset management DWS. Overall, Enpal’s obligations now amount to a total of 1.9 billion euros.
The startup, founded in 2017 by Jochen Ziervogel, Mario Kohle and Viktor Wingert, offers solar systems, energy storage, wall boxes and heat pumps for rent and now also for sale. Enpal has thus become the first German green tech unicorn in 2021. According to the statement, the new capital will be used to finance the development of 13,000 products for the relevant customers.
Most recently, Enpal received credit financing of 855 million euros in December last year. Shortly thereafter, a Series D round raised 215 million euros in venture capital at a valuation of 2.4 billion dollars (2.25 billion euros). In March, the startup was criticized for operating a fake comparison portal to attract customers.