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WEBSITE
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SECTOR
Financial Services
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INVESTMENT YEAR
2018
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STATUS
Current, IPO in 2021 (NYSE: SUNL)
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LOCATION
New York, NY
Sunlight Financial
Leading technology-enabled finance company for residential solar, energy storage and home improvement that partners with solar and battery installers, equipment distributors and sales organizations.
Investment Theme
Growing energy efficiency and home improvement market with a need for efficient, fast and frictionless financing solutions for both homeowners and strategic partners.
Partnering to Grow the Solar & Home Improvement Market
“Partnering with FTV was absolutely the right choice. The FTV team understood our business model and our growth plans from the start, bringing relevant strategic and operational advice and guidance to board discussions as we looked to expand into adjacent markets. Connections are a key part of FTV’s advantage, and they have made numerous commercial introductions to executives in the Global Partner Network, as well as to talent candidates.”
Sunlight Financial’s leading platform delivers frictionless residential solar and energy storage lending.
Sunlight Financial has financed more than $4 billion in loans for solar systems and other home improvement projects by providing technology-enabled, point-of-sale specialty finance solutions for both homeowners and strategic partners like solar and battery installers, equipment distributors and sales organizations.
Sunlight partners with contractors nationwide through whom they provide homeowners with financing for home improvement upgrades, including the installation of residential solar systems and batteries. The company’s best-in-class technology and deep credit expertise simplifies and streamlines the consumer’s application, underwriting and approval, ensuring an efficient, fast and frictionless financing process for both contractors and homeowners.
Over 125,000 homeowners nationwide have installed solar with Sunlight’s support and the more than 750 MW of solar that these Sunlight-financed systems will produce is enough solar energy to avoid more than 15 million metric tons of carbon dioxide emissions.
Read More +Recognizing Sunlight’s three-year revenue growth of more than 2,000%, in 2020, Inc. ranked Sunlight Financial 12th on the list of financial services companies and 205th of the 5,000 fastest-growing private companies in America.
With market-leading loan performance, Sunlight’s industry-low default rates translate to low-cost capital for Sunlight and higher risk-adjusted returns for its capital providers, allowing Sunlight to deploy a wide range of financial products to fuel the growth of its solar installer partners.
Only about 3% of homeowners in the U.S. currently have rooftop solar and, with the increasing cost of traditional forms of energy and decreasing cost of solar, the residential solar industry will continue to expand. The diverse product suite, user-friendly processes and innovative tools that drove Sunlight’s rapid ascension to over $3 billion in loans written continues to support strong future growth in the sizable and growing solar market.
FTV Value Add
Board Support
Working in close collaboration with the management team, FTV has helped to evaluate platform expansion opportunities, technology and personnel investments, optimize long-term capital strategy, and assess competitive positioning as the market continues to evolve.
Operations
Partnering with management team to ramp and build go-to-market strategy for expansion into home improvement verticals.
Strategic Introductions
Drawing upon the strength of our Global Partner Network (GPN), 45+ commercial introductions have been made to GPN members and other potential strategic partners like insurance companies, credit unions, and regional banks.
Team Enhancements
From FTV’s talent pool, FTV continues to make a number of talent introductions to grow business development and regional sales teams.
Congratulations to FTV portfolio company Enfusion on its initial public offering!
NYSE:ENFN