Leo DiCaprio-backed DG solar financier raises USD 31.5m

Bright, the Mexican distributed generation solar financier backed by actor Leonardo DiCaprio, announced on Thursday that it closed a USD-31.5-million (EUR 28.m) Series C financing round led by the Danish Development Finance Institution -- SDG Investment Fund (IFU).

Bright offers a solar subscription service as well as financing options to help clients choose a clean energy source. It has installed more than 30 MW of distributed solar for 4,700 residential, commercial and industrial customers since its founding in 2014.

The newly-raised funds will be used to lower financing and equipment costs for residents and businesses and provide workflow automation.

The firm said that the financing round also attracted participation from a number of family offices and high-net-worth individuals as well as various existing backers.

Bright carried out its seed round back in 2015 and over the years managed to attract backers such as YCombinator, the Inter-American Development Bank and Bimbo Group's CEO Daniel Servitje, among others.

(USD 1 = EUR 0.912)

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