Climate fintech aims to speed Europe’s energy transition with an AI-powered platform for decentralised power and financing.

Berlin’s energy transition sector got a defining boost today as Cloover, a climate fintech based in Berlin, announced it has secured more than $1.2 billion in total capital commitments, combining Series A equity and a substantial debt facility to accelerate the rollout of its software and financing platform across Europe.

The financing package includes €18.8 million (approximately $22 million) in Series A equity, led by MMC Ventures and QED Investors, with participation from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec, and Earthshot Ventures.

Alongside that, a €1.02 billion debt facility provided by a major European bank will be deployed directly as customer and installer financing through Cloover’s platform, backed by a €300 million guarantee from the European Investment Fund to support scalable, low-cost lending for clean energy projects.

For a company that only a few years ago was in seed-stage fundraising, the ...