In this episode, host Lars Markull interviews Peder Broms, co-founder and CEO of Cloover, an innovative infrastructure provider offering software and consumer financing solutions for renewable energy hardware. Broms shares valuable insights into Cloover's business model, market strategy, and vision for the future of renewable energy financing.
Cloover's Unique Business Model
Provides a plug-and-play financing solution for home improvement companies
Partners exclusively with installation companies and vendors
Offers installment purchase options for customers, rather than traditional loans
Focuses on renewable energy products, such as photovoltaic systems
Customer Journey and Financing Process
Installers create offers through Cloover's platform or integrated systems
Customers receive financing options with various payment plans
Cloover manages data collection, underwriting, signing, and identification
Approval process is quick and similar to e-commerce platforms like Klarna
Target Markets and Expansion Strategy
Started in Sweden, expanded to the Netherlands
Currently focusing on the DACH region, particularly Germany
Plans for future expansion into other European markets
Emphasis on quality partnerships with experienced installers
Competitive Advantage and Market Positioning
Enables SME installers with efficient operations and financing solutions
Targets the 85% of installations done by SME installers
Differentiates from competitors by not engaging in digital customer acquisition or hardware installations
Future Outlook and Financing Strategy
Working with banks and exploring various financing models
Aims to find suitable partners through banks or institutional investors
Long-term goal of contributing to sustainability and innovation in the renewable energy sector