German climate fintech company Bees & Bears, which finances the installation of sustainable energy solutions, has secured €500 million in financing commitments. This financing pledge follows the company’s successful venture capital funding round last year.
The latest financing commitments come from a publicly listed bank based in German-speaking Europe. This bank, which is supervised by the European Central Bank, already supports similar business models across Europe and the United States. The financing deal was finalised with the assistance of the renowned law firm Linklaters.
Funds utilisation
It will be used to support the installation of sustainable energy solutions in private homes across Germany. This funding will enable nearly 25,000 photovoltaic systems, heat pumps, energy storage systems, and home electric vehicle chargers to be fitted.
How was the idea born?
Bees & Bears was founded in 2023 by Jakob von Egidy and Marius Schondelmaier after the realised that there is an annual shortfall of over €4 trillion in investments in sustainability in order to achieve the global climate targets. This gap can only be closed with loan capital.
Jakob von Egidy, an experienced start-up CFO, witnessed the impacts of the climate crisis firsthand during a sabbatical in Congo. Marius brings extensive scale-up experience from Rocket Internet, where he launched a platform for contractor firms, as well as his expertise as a consulting manager in digital transformation in the energy sector. Together as a founding team, they recognised the need for simple, fast and accessible financing solutions for sustainability investments.
Instant sustainable energy financing
The climate fintech company offers private customers payment plans for these items when installed by independent, predominantly small and medium-sized contractors. Similar to car financing, credit checks are completed within minutes.
The financing process is simple. Contractors prepare a quote for installing a photovoltaic system, heat pump, energy storage unit, or EV charging point. They then enter the key financial details of the quote in an online form, along with the customer’s personal details. After a real-time credit check, the financing by installments is approved. Government subsidies for energy transition are pre-financed and taken into account once approval has been granted.
“Previously, customers looking to finance their photovoltaic (PV) systems with credit were almost always limited to the major industry players, as they were the only ones offering flexible payment,” said Marius Schondelmaier, co-founder and CEO of Bees & Bears. “Our solution changes the game by combining deferred payment options with the freedom to work with the contractor of your choice. This levels the playing field for small and medium-sized installers, putting them on equal footing with the industry giants.”
“Simple financing options for climate-friendly home retrofits are a key driver for the success of the energy transition,” explained Jakob von Egidy, the other co-founder and CEO of Bees & Bears. “Traditional banks recognise the size of this market but face challenges with the relatively small loan amounts and customers’ desire for fast approval. We’ve made buying a home solar power system as easy as buying a car.”
“Injecting additional capital on this scale will add significant momentum to the renewable energy sector,” declared Jördis Heckt-Harbeck, financing expert at Linklaters. “Moreover, it enables financial institutions to shift toward more sustainable investment profiles. This commitment marks a major milestone in achieving a sustainably financed energy transition.”
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