/

Bright Raises $31.5M in Series C Funding

by

Bright

Bright, a prominent distributed solar company, has successfully raised $31.5 million in Series C funding to support its expansion in Mexico. The funding round was led by the Danish SDG Investment Fund (“IFU”), with participation from various family offices, high net worth individuals, and existing investors.

Jonah Greenberger founded Bright with the goal of streamlining and reducing costs in the distributed solar value chain in Latin America (LatAm). Since its inception, Bright has installed over 30 megawatts of distributed solar for 4,700 customers in Mexico by empowering local installers and entrepreneurs and offering cost-effective financing solutions. The company operates as a software-enabled platform that automates workflows, communication, and financing processes for its partners and customers, providing a “no money down” clean electricity financing service. In addition to serving the residential sector, Bright has expanded its services to include the commercial and industrial sectors.

Mexico, located in one of the sunniest regions globally with a strong manufacturing base and growing energy demand, is well-positioned to lead the way in the transition to renewable energy, particularly solar energy. Bright intends to utilize the IFU investment to drive down the costs of financing and equipment for both residential and business customers while implementing workflow automation to capitalize on Mexico’s abundant solar energy potential.

Thomas Hougaard, Senior Vice President & Head of Green Energy & Infrastructure at IFU, expressed confidence in Bright’s capabilities to provide high-quality and affordable solar power solutions, thereby supporting Mexico’s green energy transition.

Jonah Greenberger, CEO of Bright, highlighted Mexico’s immense potential for wealth creation through solar energy and emphasized the international importance of enabling this opportunity. He sees IFU’s investment as a means to scale up partner workflow automation and significantly reduce capital and equipment costs, ultimately supporting solar development in Mexico’s emerging economy.

Marathon Capital, LLC acted as the exclusive financial advisor to Bright during the funding process.

Bright has established itself as Mexico’s leading distributed generation solar financier, providing a solar operating system that enables thousands of homeowners to access cheaper electricity with no upfront costs. The company collaborates with a wide network of project financiers, local installers, and distributors to meet the increasing demand for solar energy in the country. Bright’s investors include prominent names such as First Round Capital, Y Combinator, Leonardo DiCaprio, the founders of Sunrun and Tesla, and other renowned Silicon Valley firms.

Related Stories

Latest News Stories

Discover more from Silicon Valley Journals

Subscribe now to keep reading and get access to the full archive.

Continue reading