Renovate America has received a $90 million equity investment from DFJ Growth, Silver Lake Kraftwerk, RockPort Capital Partners, Valor Equity Partners, DB Masdar and 400 Capital Management. The company to date has raised more than $175 in equity financing.
The company partners with business and locale government and businesses to provide property-assessed clean energy (PACE) loans. The financing is used to increase home efficiency and energy and water improvements, according to the story. It is paid back as a line item on the property tax bill.
Renovate has financed about $900 million of loans in California, making it the largest originator of residential PACE financing.
Last month, the Chowchilla (CA) City Council voted to make the HERO PACE program available to residents. HERO-qualified contractors can offer customers upgrades that are more efficient than the customer could have afforded without PACE financing, according to The Chowchilla News.