Solfácil Funding, Investors & Competitors

Solfácil has raised $165M across 6 funding rounds, most recently a Series D in January 2025.

Last Solfácil funding round

Series D

Amount undisclosed · Jan 2025

Cumulative funding Solfácil raised

$165M

across 6 funding rounds

Key investors in Solfácil

  • Valor Capital Group
  • QED Investors
  • SoftBank Group
  • International Finance Corporation
  • Fifth Wall
  • VEF
  • Azor Barros

Solfácil Overview

About Solfácil

Solfácil is a Brazilian solar energy company founded in 2018 by Fabio Carrara and headquartered in Sao Paulo. It began as a fintech financing rooftop solar systems for households and small businesses through installers, funding the loans with debentures and green receivables funds. It has since built an ecosystem for installers that adds solar equipment distribution after its 2023 purchase of Solar Inove, a proprietary monitoring device based on internet-of-things technology, and insurance products. Its investors include Valor Capital Group, QED Investors, SoftBank, VEF, Fifth Wall and the International Finance Corporation. A broker credit report put its financings granted at R$5.47 billion at the end of December 2025, and the press reported that it had raised about R$5 billion through receivables funds by early 2025.


Founded

2018

HQ

BrazilSão Paulo

Status

Privately held

Customer focus

B2B

Revenue model

Services

Solfácil Funding History

Solfácil has raised a total of $165M across 6 funding rounds.

Solfácil's first fundraising round was a $1M seed round in March 2018. The most recent completed round was a Series D in January 2025.

Solfácil funding rounds

Solfácil funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2025Series D--Solfacil raised a Series D equity round of R$184 million between the fourth quarter of 2024 and the first quarter of 2025, extending the equity base created by its Series C of May 2022, which raised R$625 million according to a credit analysis from a Brazilian broker. The round took place alongside a large expansion of the loan book, which grew on R$4.22 billion of third-party capital and reached R$5.47 billion of financing granted by the end of December 2025. Solfacil is a Sao Paulo company founded in 2018 by Fabio Carrara that started as a solar financing platform for households and now sells solar equipment through its own distribution arm, offers insurance and monitoring, and funds installer-originated loans through green receivables funds. The Series D was a follow-on to rounds led by QED Investors and Fifth Wall and to an earlier Series A led by Valor Capital Group.
Sep 2022Series CFifth Wall (lead)$30MFifth Wall invested US$30 million, about R$157 million, in Solfacil in September 2022 as a Series C extension, becoming the new lead of the round. The existing investors SoftBank, VEF, QED Investors and Valor Capital Group were named as earlier backers. The extension followed the US$100 million Series C of May 2022 and brought the company's equity raised since 2018 to US$164 million across three institutional rounds. Solfacil said it had invested R$20 million in a new IoT monitoring device, had a loan portfolio approaching R$2 billion and served more than 10,000 partner installers across 26 states and the Federal District. Management expected revenue to grow five-fold in 2022 compared with 2021. Fifth Wall, a real-estate and climate-focused venture firm, managed more than US$3.2 billion at the time.
May 2022Series CQED Investors (lead); SoftBank Group; VEF; Valor Capital Group$100MSolfacil announced a Series C equity round of US$100 million, about R$500 million, on 11 May 2022, led by QED Investors. SoftBank, VEF and Valor Capital Group took part, and the International Finance Corporation was described as an earlier backer. The company had by then financed more than R$1.2 billion in solar loans and connected more than 8,000 partner installers in all 27 states, and it said it had grown eight-fold a year since 2018. The proceeds were intended to widen the product range beyond credit, including an equipment marketplace and monitoring devices, and to expand lending. Solfacil was founded in 2018 by Fabio Carrara in Sao Paulo and had started as a financing platform for residential solar projects, which led the press to call it an ex-fintech.
Jun 2021Series BQED Investors (lead); Azor Barros; International Finance Corporation; Valor Capital Group$30MSolfacil announced a Series B of R$160 million, about US$30 million, on 23 June 2021, led by QED Investors. Valor Capital Group, which had led the Series A a year earlier and was already a shareholder, took part, and the International Finance Corporation is reported to have joined alongside them. Founder Fabio Carrara declined to disclose the valuation and said the dilution was low by industry standards. The company said it planned to grow from 215 to 460 employees by the end of 2022 and to originate more than US$500 million of loans by 2022; it was originating about R$60 million a month with a credit portfolio above R$300 million. In parallel it issued a green receivables fund that brought US$100 million of fresh capital to fund loans. Solfacil finances rooftop solar for households through more than 5,000 partner installers in all states of Brazil.
Jul 2020Series AValor Capital Group (lead)$4MSolfacil raised a Series A of R$21 million, about US$4 million, in July 2020, led by Valor Capital Group. The angel investors who had backed the company since 2018 also took part. The company described itself as the first solar fintech in Brazil, offering digital financing of residential and commercial solar installations through installers, with funding for the loans coming from debentures and receivables funds. It had issued a R$120 million public debenture issue in early 2020 and held a credit portfolio of about R$50 million. Fabio Carrara founded the company in 2018. The new capital was meant to fund technology, commercial expansion and new products at a time when distributed solar was growing quickly despite the pandemic.
Mar 2018Seed-$1MSolfacil, the Sao Paulo solar financing company founded by Fabio Carrara in 2018, took its first outside money from angel investors in 2018. The trade press later described these backers as having supported the company since the start, and they joined the Series A in July 2020. The funding paid for the first version of a digital financing line for residential solar installations, sold through solar installers who package panels and credit for homeowners. At the time the market for distributed solar in Brazil was small, with solar users making up well under one percent of electricity consumers. The company went on to raise a Series A led by Valor Capital Group, a Series B led by QED Investors and a Series C of US$100 million, and to build a business that combines installer credit, equipment distribution and monitoring.

Who has invested in Solfácil?

7 investors have backed Solfácil across its funding rounds, including Valor Capital Group, QED Investors, SoftBank Group, International Finance Corporation, Fifth Wall and VEF.

Lead investors include Fifth Wall, QED Investors and Valor Capital Group.


Solfácil Investors

Investors in Solfácil by funding rounds participated
InvestorHQRoundsRoleFirst check
Valor Capital GroupUnited StatesNew York City, NY3LeadJul 2020
QED InvestorsUnited StatesAlexandria, VA2LeadJun 2021
SoftBank GroupJapanTokyo1ParticipantMay 2022
Azor BarrosBrazilSão Paulo1ParticipantJun 2021
Fifth WallUnited StatesLos Angeles, CA1LeadSep 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Solfácil

Solfácil has acquired 1 company to date.

Last acquisition by Solfácil was on March 8th 2023. Solfácil acquired Solar Inove for undisclosed valuation.


Latest Acquisitions by Solfácil

Solar Inove
Description
Solar Inove is a São Paulo-based national distributor of photovoltaic modules, inverters, mounting structures, and balance-of-system components across Brazil. The company supplies equipment from brands like Canadian Solar and Huawei to installers and developers, supporting over 1 GW of deployed capacity. Warehouses in key regions facilitate rapid delivery for residential, commercial, and utility projects nationwide.
HQ CountryBrazil
HQ City
Porto
Deal Date8 Mar 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Solfácil Competitors

Solfácil competitors include listed companies like Alibaba Group, Global-e, Amazon and GE Vernova, and private ones like Helion Energy and Eni Plenitude.

Public and private companies comparable to Solfácil
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Alibaba GroupChinaChinaPublicly listed$154B$15B$266B1.6x
Global-eUnited StatesUnited StatesPublicly listed$962M$159M$7.2B5.2x
AmazonUnited StatesUnited StatesPublicly listed$717B$161B$2.8T3.6x
GE VernovaUnited StatesUnited StatesPublicly listed$38B$3.2B$205B4.2x
Helion EnergyUnited StatesSeattle, WAPrivate--$16B-
Eni PlenitudeItalyMilanPrivate$11B$1.2B$15B1.3x

Solfácil Public Comps

Solfácil is still privately-owned, but its public comps include Amazon, Alibaba Group, GE Vernova, Iberdrola, Pinduoduo, China Yangtze Power, Constellation Energy, MercadoLibre, Sea and Vistra.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amazon$717B$161B4.1x3.6x18.4x14.1x
Alibaba Group$154B$15B1.7x1.6x17.4x12.0x
GE Vernova$38B$3.2B5.0x4.2x59.5x30.9x
Iberdrola$49B$17B4.8x4.6x14.1x12.6x
Pinduoduo$65B$15B0.8x0.8x3.6x3.2x
China Yangtze Power$13B$11B11.8x12.1x14.4x15.4x
Constellation Energy$26B$5B4.4x3.5x22.5x13.9x
MercadoLibre$29B$3.7B3.0x2.1x23.2x21.2x

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Common questions about Solfácil

When was Solfácil founded?Solfácil was founded in 2018.
Where is Solfácil headquartered?Solfácil is headquartered in São Paulo, Brazil.
Is Solfácil publicly listed?No, Solfácil is a private, VC-backed company.
How much funding has Solfácil raised?Solfácil has raised $165M across 6 funding rounds.
What was Solfácil's last funding round?Solfácil's last funding round was a Series D in January 2025.
Who are Solfácil's investors?Solfácil's investors include Valor Capital Group, QED Investors, SoftBank Group, Azor Barros, Fifth Wall, International Finance Corporation and VEF.
Which companies are comparable to Solfácil?Companies comparable to Solfácil include Alibaba Group, Global-e, Amazon, GE Vernova, Helion Energy and Eni Plenitude.
How many companies has Solfácil acquired?Solfácil has acquired 1 company, including Solar Inove.

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