– USA, NJ – Sunlight Financial, a provider of financing for the residential solar market, today announced the appointment of Matthew R. Potere as chief executive officer. Potere is a 20-year veteran of the consumer finance industry with experience in home equity mortgage lending, unsecured lending and small business lending.
“We are delighted to add Matt to our experienced existing management team to lead Sunlight in the next phase of success as a standalone and independently capitalized entity,” said Neil Z. Auerbach, founder and executive chairman of Sunlight. “Matt’s impressive background in the different subsectors within the consumer lending business and his first-rate leadership skills will further position Sunlight as a leading loan provider in the residential solar market.”
Potere has expertise in the development and execution of innovative loan products for both Fortune 50 companies and start-ups alike. Previously a senior vice president at Bank of America, Potere was responsible for a $90 billion home equity portfolio. Under his leadership, his team doubled new origination production within his first year of tenure, resulting in over 50 percent increase in market share.
“I am excited to join the extraordinary Sunlight team, as we bring our channel partners pioneering solutions to provide long-term solar loans to their customers,” said Potere. “Our differentiated loan products will allow us to grow our national footprint, providing homeowners with the benefits of system ownership and immediate savings on their energy bills.”
Sunlight also recently announced the closing of a series of investments including capital from lead investor Tiger Infrastructure Partners, an independent private equity firm focused on investments in middle-market infrastructure assets and businesses in North America, and founding investor Hudson Clean Energy Partners, the leading global private equity firm specializing in renewable energy. The investments will provide Sunlight access to $300 million of capital, allowing the company to rapidly grow its business platform and increase access to lower cost financing alternatives for its portfolio of consumer assets.
ABOUT SUNLIGHT FINANCIAL
Sunlight Financial provides long-term loans to finance the installation of residential rooftop solar systems. Sunlight offers its financing products to market-leading installers and large equipment distribution companies (channel partners). These channel partners originate installations with homeowners, who typically choose to install a rooftop solar system to save on their utility bill. The company’s strategy is to grow with several installers by providing cost-effective capital and robust service offerings, enabling it to scale quickly while minimizing customer acquisition costs and overhead. The company was founded by Hudson Clean Energy Partners and is backed by Tiger Infrastructure Partners.
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