Sunlight Financial secures $300 million for residential solar financing

By Lisa Kerner

Charlotte, N.C., Sept. 16 – Sunlight Financial LLC closed a series of capital investments totaling $300 million, including $80 million of growth capital from lead investor Tiger Infrastructure Partners and a senior secured credit facility up to $120 million led by CIT Energy Finance.

Existing and new financial institutions will provide more than $100 million of additional capital.

The capital will be used for investment in loans and other products directed towards residential solar finance, according to a news release.

“With this substantial round of financing, our independent and user-friendly platform is positioned to expand rapidly into one of the nation’s leading providers of residential solar finance, with a diverse set of channel partners and credit-worthy homeowners,” said Sunlight chief executive officer Matthew R. Potere.

Sunlight Financial provides long-term loans to finance the installation of residential rooftop solar systems. The company is based in Teaneck, N.J.

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