Good investments that deliver a social and environmental result: This is the simple principle behind startups such as Mosaic and Wunder's crowdfunding approach to financing larger solar rooftops. Wunder appears to have taken a further step towards achieving this goal through raising a second round of finance.
Techstars Ventures, Fenway Summer Ventures, and FinTech Collective, and existing seed investors have put a further $3.6 million towards Wunder's aims. And Wunder is certainly ambitious.
"Our mission [is] to become the largest provider of solar financing in the U.S.," said Wunder co-founder and CEO Bryan Birsic, in a statement announcing the funding round. Were ecstatic to welcome Techstars Ventures, FinTech Collective, and Fenway Summer Ventures to the Wunder family, he added.
Wunder offers investors the opportunity to participate in two solar funds, the Wunder Income Fund and the Wunder Bridge Fund. Minimum investments of $1,000 are accepted and returns of 6% and 11% over 120 and 24 months respectively have been targeted.
Wunder Capital is tapping into an incredible opportunity by blending fintech with the exploding solar market," said Techstars Ventures' Jason Seats. "We are excited to support them in growing their company.
In covering the announcement, The Wall Street Journal noted that trailblazing solar crowdfunder Mosaic, formerly Solar Mosaic has pivoted away from funding C&I solar, instead concentrating on the residential segment. Open Energy Group is also attempting to make head roads in funding C&I solar, although it is not accessing crowdfunded finance.