Leonardo DiCaprio Fund invests in German company for the first time. The Berlin company Enpal offers solar panels by subscription. An investment fund supported by Leonardo DiCaprio has now invested millions in the young start-up.
Leonardo DiCaprio Fund invests in German company for the first time
The investment fund Princeville Climate Technology, which is supported and financed by actor and environmental activist Leonardo DiCaprio, among others, has invested in a German company for the first time. Specifically, the fund, which specializes in green technologies, invested a mid-single-digit million amount in the Berlin start-up Enpal, which specializes in the rental of solar systems.
In the past few days, the company has already completed a financing round with several prominent donors from the German start-up scene. Zalando board members Rubin Ritter, David Schneider and Robert Gentz invested “several million” euros in the company, according to the company. Lukasz Gadowski, one of the inventors of the Berlin delivery giant and Dax newcomer Delivery Hero, is one of the investors, as is Alexander Samwer, co-founder of the start-up forge Rocket Internet.
Founded in 2017, Enpal is now the largest provider of solar solutions for homeowners in Germany with around 5000 customers. The start-up offers systems on a monthly basis in order to keep investment costs low for potential buyers. After 20 years, the panels can be taken over for a symbolic euro. Enpal currently employs around 400 people nationwide.
The business model is modeled on the USA, where the rental of solar systems has established itself as the standard solution. Around 90 percent of the solar systems on US private roofs come from leasing providers, and the segment is also growing in Germany. During the pandemic, says founder coal, the demand for his systems “doubled”, in the coming year he is planning to have around 10,000 customers.