Huge congrats to portfolio company Wunder Capital and its CEO, Bryan Birsic, on a successful Series B fund raise led by Cyrus Capital. With the fresh capital and the ever decreasing renewable cost curve, we are big believers in the ability of the team to unlock the $4bn per annum opportunity in commercial solar.
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Solar project lending startup Wunder Capital raises $112 million as renewable energy shines
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Wunder lends money to commercial solar energy development projects throughout the U.S. and its business has been buoyed by a flood of demand for new solar energy projects coming online. Since its launch in 2016, the company has financed more than 180 projects throughout the U.S., which are generating somewhere in the range of 50 megawatts (or enough electricity to power roughly 32,500 homes). The Boulder, Colo.-based company makes money in three ways: It charges closing fees, a servicing fee and annual interest rate on the debt it provides — typically Wunder will pull in between 4 percent and 5 percent off of each loan it provides to a project.
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