The startup develops financial software that enables users in emerging markets to finance solar energy projects without upfront costs, facilitating access to affordable and clean energy. By optimizing financial products for distributed generation, the company helps customers significantly reduce their electricity expenses.
Funding
$4.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses in emerging markets face challenges in financing solar energy projects due to high upfront costs and a lack of tailored financial products. This limits their access to affordable and clean energy, hindering sustainability efforts and potential cost savings.
Solution
Solara is a B2B fintech company that provides software and financial solutions to facilitate the adoption of solar energy for businesses in emerging markets. The company partners with local solar installers, offering them a platform to create proposals and provide flexible financing options to their customers. Solara's "Energy-as-a-Service" model includes subscription-based plans and rent-to-own options, enabling businesses to access solar energy without significant upfront investment. These plans offer predictable monthly payments, guaranteed energy production, and Solara Care+ for operational peace of mind, allowing businesses to reduce energy costs and achieve sustainability goals.
Target Audience
Solara's primary customers are commercial and industrial businesses in emerging markets, particularly those with monthly electricity bills exceeding $60,000 pesos and utilizing CFE GDMTH or GDMTO tariffs. The company also targets solar installers seeking to expand their customer base by offering flexible financing solutions.
Features
- Subscription-based solar energy plans with no upfront investment
- Rent-to-own options with flexible contract terms (6-20 years)
- Solara Care+ including operation, maintenance, and insurance
- Guaranteed energy production with compensation for shortfalls
- Fixed monthly payments for predictable budgeting
- Potential for immediate fiscal benefits, including deductions
- Web platform for installers to create proposals and manage customer accounts
- Partnerships with certified integrators to ensure quality installations