Tech Moguls returns GoodLeap’s Green Housing Push in a $ 12 billion review

In the coming years, Americans will need at least $ 450 billion to green their homes, says entrepreneur Hayes Barnard.

Mr. Bernard, a former CEO of Solar City Corporation, has made more than $ 1 billion in technology investments over the past 10 months, including the likes of Michael Dale and Laurence Tossie, who have grown their financial company GoodLeap LLC. In September, the fundraiser estimated the company to be worth $ 12 billion.

The new capital brought low-income Mr. Bernard into the “billionaire-neighbor” neighborhood of Austin, Texas, who knows him. In addition, In 2016, Tesla returned as the chief revenue officer at SolarCity, marking the return of the 49-year-old. Inc.

He took over the troubled company.

The U.S. solar industry has been plagued by false startups, but the demand for energy-efficient housing and growing investment is growing, Mr Bernard said.

According to banks and investors, GoodLeap is the largest roofing solar financing company in less than two years, developing new technology to connect lenders, consumers and vendors. The goal is to replicate the decades-long modernization of the mortgage market in just a few years.

GoodLeap provides lenders such as banks, insurance and hedge fund managers who can monitor the finances of each borrower and customer satisfaction. An app connects installers to lenders for credit approval while on sales calls for homeowners who may use a separate app to track energy production, cost savings and electricity sales for their local utility grid. The company is set to generate $ 5.2 billion in loans this year. By 2020, $ 3.3 billion, someone knows.

Many homeowners have turned to installing solar panels to receive solar power and to address climate-related warnings and other interruptions.


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Nathan Frandino / Reuters

Mr. Barnard now wants to branch out home improvements, from heat pumps to energy-saving windows and artificial turf, trying to adapt homeowners’ blacks, heat waves, and natural disasters to climate change.

Mr. Barnard and GoodLeap President Tangui Sera – as well as Solar City’s veteran financial institutions – are rushing to expand before they turn their attention. In August, mortgage company Rocket Cos announced a technological push for “green energy solutions” on credit.

“Winning is a company that combines all technology together,” said Bernard, who spoke with Silicon Valley Pitts.

GoodLeap needs money to stay ahead and for now, Mr. Bernard is leading the way in public stock markets and their monitoring and reporting requirements. Instead, he is appointing high-tech entrepreneurs.

Mr. Tosi, investor and former Airbnb CFO Inc.

In 2018, Mr. Bernard was introduced to skiing in Britain, Colombia. On the way, Mr. Barnard impressed Mr. Tosin with his desire to build an enterprise that focuses on big issues such as sustainability. A.D. He joined GoodLeap Board of Directors this year by investing in Bernard’s business.

Property owners in the windy and sunny parts of the United States are pushing back on renewable energy, and researchers say it could slow down the transition to a clean economy. Photo – Aaron Yoder / WSJ

After Mr. Bernard left for Austin, Mr. Dell was attracting long-time silicon valleys such as Tesla founder Elon Musk. This summer, Mr. Dell and Mr. Bernard traveled to Lake Austin to meet each other. He discussed the importance of raising capital through GoodLeap, the company’s charity partner, PoPower, and private or public stock.

A few weeks later, Mr. Dell issued a $ 800 million stake in GoodLeap. According to one source, that round of funding was $ 12 billion for the organization, $ 4.4 billion in December and $ 1.5 billion in March 2020.

The recent fundraising round led by Michael Dell has raised GoodLeap to $ 12 billion.


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Richard Drew / Associated Press

According to Bernard, one of the reasons for the recent increase in capital is God Lipp looking to merge or acquire other solar-financing companies.

Mr. Bernard is aware of the dangers of going public. Solar City stocks have tripled by $ 85 million from 2013 to 2014, with the company overseeing the installation of solar panels it leases to customers. The company hosts annual events for thousands of employees in Las Vegas, and Mr. Barnard concludes with an award-winning performance by Freestyle Raps.

However, Solar City has borrowed for oil development, including the expansion of solar technology, and net losses have doubled to $ 769 million in 2015, according to the company’s annual report. As a result of Bernard’s departure, the stock dropped to about $ 20 before Tesla was arrested.

Mr. Bernard Loanpal, who grew up in Craw Couer with a three-year-old single mother, gathered around a mortgage company and started moving the company into solar panels. Analysts and investors say the new company has built a software-driven marketplace by connecting industry participants instead of using a vertical integrated strategy.

Blackstone Inc. “What they have done is to mechanize the whole process of mechanization,” said Rob Kamacho, co-head of the Internal Loan. They said.

IPO provided GoodLeap access to hundreds of new investors. Funds raised by traditional IPOs, excluding direct listings or special purpose acquisition companies, have already exceeded the total annual total. Major stock indexes remain close to records, and the investment fund is filled with cash and eager to buy into emerging, for-profit companies.

This summer, banks set an IPO price tag of more than $ 12 billion to sell GoodLeap privately, according to people familiar with the matter. Mr. Bernard turned to his advisers to decide what to do.

Mr. Tossie conveyed a message to Bernard: “Your company, your terms, your time, your way.”

Write Matt Wirz at matthieu.wirz@wsj.com and Corrie Driebusch at corrie.driebusch@wsj.com

Corrections and amplifiers
GoodLeap is a subsidiary of PowerPower. The original charity of this article named the charity by mistake. (Edited on October 13)

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