· Investment Strategies · 3 sources · Updated · Verified
Cloover’s $100M Facility: $350M Run-Rate Claim, Not a New Equity Round
Berlin’s Cloover said on September 1, 2026 it is profitable at a more than $350 million revenue run rate and added a $100 million (€86.2 million) financing facility. That is installer/household lending capacity, not Series B. January’s package was $22 million equity plus about $1.2 billion of debt. No valuation.
Editorial team
Cloover said on September 1, 2026 that it is profitable at a revenue run rate of more than $350 million and added a $100 million (€86.2 million) financing facility — not a new priced equity round. The $100 million is installer and household lending capacity. January’s company post was $22 million Series A equity plus about $1.2 billion of debt; coverage now puts total financing capacity above $1.3 billion. No valuation. Last verified September 1, 2026. Figures below are EU-Startups and Tech.eu unless labeled company.
Five-minute decision
| If you need… | Verdict |
|---|---|
| What happened | Facility + profitability claim. $100M / €86.2M of lending capacity. |
| Equity today | None announced. Last priced equity: Jan 2026 $22M Series A. |
| Traction disclosed | Company: >$350M run rate; ~20,000 installs/year; five European markets. |
| Whether to diligence | Yes, if you underwrite climate debt. No, if you need a 2026 mark. |
Investigate further when: you care how a neo-utility finances hardware at the installer counter.
Wait or pass when: you need a Series B price, or you treat $1.3B as cash on Cloover’s equity cap table.
What happened
| Field | Detail |
|---|---|
| Company | Cloover — Berlin, founded 2023 by Jodok Betschart, Peder Broms, Valentin Gönczy |
| Sep 1 print | $100M (€86.2M) facility; company-claimed profitability; >$350M run rate (€301.7M per EU-Startups) |
| Prior equity | $22M Series A, Jan 2026 — MMC Ventures and QED Investors led (company) |
| Prior debt | ~$1.2B facility + EIF guarantee (company: €300M in January; September coverage cites $350M / €350M) |
| Total capacity now | >$1.3B (press) |
| Named expansion | UK, France, Poland “soon” (Tech.eu / EU-Startups) |
| Valuation | Not disclosed |
What Cloover sells: an OS for independent installers (solar, heat pumps, renovations) with embedded financing, then a virtual power plant over the installed base. Company: every project sold by an independent installer; installers keep the customer relationship. “Top three in Europe’s largest energy market” is company language, not a Tracker ranking.
Cloover vs Emerald AI — what differs
| Cloover | Emerald AI | |
|---|---|---|
| Buyer | Residential installers / households | AI data-center operators |
| Sep/Aug print | $100M facility | $150M Series A @ $1.05B |
| Revenue | Company: >$350M run rate | Not disclosed |
| Instrument | Debt capacity + thin equity | Priced equity |
| Directory funds | None on this print | General Catalyst scout named on Emerald |
Same-month climate-adjacent debt: Lambda’s $1B GPU facility is also balance-sheet financing, not a valuation event.
What remains undisclosed
No valuation, default rates, or audited revenue — only a company-claimed >$350M run rate and profitability. The open question is whether installer-counter lending scales without a Series B price investors can underwrite. Do not call $100M Series B or $1.3B equity raised; EIF guarantee dollars in January vs September coverage do not match exactly (€300M vs $350M).
Related: Cloover · Emerald AI $1.05B · September 1 tape.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
