Enpal announced securing €100M in a fundraising round led by HV Capital, and joined by E.R. Capital, FRIBA Investment, and Heliad Equity Partners

Enpal, a Berlin, Germany-based energy company, announced closing in a €100M ($119M) fundraising agreement.

The money was raised from investors led by HV Capital, joined by E.R. Capital, FRIBA Investment, and Heliad Equity Partners, as well as local angel investors including Thomas Griesel, founder of the cook box company Hellofresh, Christopher Muhr, ex-manager of the used car trading platform Auto1, and Peter Rive, co founder at Solarcity.

According to media reports, the deal was made at a €700M valuation. The company is said to have produced sales of €56 million in 2020.

Enpal, founded in 2017 by CEO Mario Kohle and Viktor Wingert, built a business by renting solar systems to private customers.