CoPower secures $2M financing led by Fondaction

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By Ted Liu

CoPower Inc, a clean energy fintech company, has raised $2 million in equity funding led by Fondaction CSN with participation of existing shareholders, Royal Bank of Canada and Innovation Support, and new investors Ferst Capital Partners and Laurie Thomson, others.

Founded in 2013, CoPower has raised over $12 million in loans for community-scale clean energy projects, like LED lighting retrofits and geothermal heating and cooling for homes, that generate measurable carbon reductions and strong financial returns.

CoPower’s flagship Green Bonds, available through a simple online platform, allow everyone to participate.

“We are thrilled to bring together a range of values-aligned shareholders, including institutional investors like Fondaction and the Royal Bank of Canada, as well as leading fintech investors like Ferst Capital Partners,” said David Berliner, CoPower’s cofounder and CEO.

“Our vision is to provide simple financial products, like our Green Bond, that offer solid returns for all types of investors, and that at the same time help finance the clean energy economy,” added Raphael Bouskila, CoPower’s cofounder and President. “This corporate round of financing gives us additional resources to continue to serve our clients and to deliver on that vision.”

“Being the preferred partner in smaller, innovative sustainable infrastructure in Quebec, we’ve seen first-hand what a challenge it is for these clean energy projects to access financing. CoPower’s innovative approach to filling that gap through crowd-investing shows that they are natural partners for us and our entire ecosystem by trying to accelerate the energy transition through technology and financial innovation. We are delighted to reaffirm our support of the company and its management,” commented Stéphan Morency at Fondaction CSN.

photo credit: CoPower