Leo DiCaprio-backed Bright Solar Raises $31.5m

• Solar financing company Bright, funded in part by Leonardo DiCaprio, raised USD 31.5m to help customers reduce costs and automate workflow. Founded in 2014, Bright has installed over 30MW of solar and serves 4,700 customers.

Bright, a solar financing company backed by actor Leonardo DiCaprio, has raised USD 31.5 million (EUR 28.m) in a Series C round of financing. The financing round was led by the Danish Development Finance Institution and attracted participation from various existing backers like YCombinator, the Inter-American Development Bank and Bimbo Group's CEO Daniel Servitje. Bright provides a solar subscription service and financing options and has installed more than 30 MW of distributed solar for 4,700 customers since its founding in 2014. The newly-raised funds will be used to lower financing and equipment costs for clients and provide workflow automation. Bright carried out its seed round back in 2015 and has since managed to attract significant backing.

How Much Funding Did Bright Receive in Its Series C Round?

• Bright raised USD 31.5 million in a Series C round of financing.
• The round was led by the Danish Development Finance Institution and was supported by existing backers such as YCombinator, the Inter-American Development Bank, and Bimbo Group's CEO Daniel Servitje.
• Bright's seed round was conducted back in 2015.
• Since its founding in 2014, Bright has installed more than 30 MW of distributed solar for 4,700 customers.
• The newly-raised funds will be used to lower financing and equipment costs for clients and provide workflow automation.