Brief: Solar Mosaic Raises $40 Million for Working Capital

Sun Solar Sunset BoatSolar Mosaic, usually just referred to as Mosaic, has raised over $40 million for working capital purposes according to a filing with the SEC.  The equity offer in Mosaic saw its first sale on August 4th with the sales managed by Guggenheim Securities in Manhattan.

Mosaic was an early entrant in the peer to peer lending space for renewable energy projects. The company matched smaller investors with both larger and smaller projects across the US. Mosaic later migrated to a balance sheet lending model as the marketplace model was apparently too much of a distraction.  Most recently,  Mosaic announced a $200 million warehouse facility provided by DZ Bank in Germany with participation from NY Green Bank in the US. Guggenheim Securities acted as sole arranger of the warehouse facility similar to the equity round

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