Announces Major Photo voltaic Financial loan Securitization to Date at $382.7 Million and Expands Executive Group with Two New Hires
OAKLAND, Calif., April 21, 2022 /PRNewswire/ — Mosaic, a foremost financing platform for U.S. household photo voltaic and electrical power-efficient dwelling advancements, now declared it has surpassed $7 billion in financial loans funded by way of the firm’s platform. This milestone indicators a potent first quarter for the mission-driven enterprise, which also achieved its highest month to month personal loan quantity to day in March.
“There is certainly a expanding great importance of clean up renewable strength as an economic motor, a climate essential, and a matter of nationwide stability,” mentioned Billy Parish, founder and CEO of Mosaic. “The urgency to deliver affordable financing selections for our partners and householders is escalating, and Mosaic is uniquely positioned to aid lead this cost.”
The $7 billion milestone was handed in mid-March and was fueled by the company’s strong sector relationships, operational abilities and a lot of cash companions. Mosaic also not long ago finished a $382.7 million securitization. This was Mosaic’s most significant securitization to day and integrated the addition of Fitch Rankings, rating the senior (AA-) tranche of the transaction. Mosaic has now finished 12 securitizations in excess of the course of 6 a long time, which is a lot more than any other photo voltaic loan issuer in the place. On top of that, Mosaic carries on to establish new forward movement and direct origination partnerships with banks, credit score unions, insurance policy providers and asset managers to further more improve its diversified funding design.
Mosaic Expands Govt Bench
As Mosaic carries on to knowledge rapid progress, the organization has included two new leaders to its workforce. Kim McNealy has joined as standard manager of household enhancement and reports to Patrick Moore, president and main functioning officer. And Noura Panaritis has joined as senior vice president of company apps and stories to Nagaraju Bandaru, main know-how officer.
McNealy oversees the home improvement organization operations at Mosaic, establishing, deploying and retaining very competitive products and providers throughout the residence advancement ecosystem, from OEMs, distributors and SaaS platforms, to installers and sales businesses. He has more than two many years of practical experience in enterprise progress and buyer practical experience tactic focused on large-expansion, technology-based mostly firms.
As the SVP of business apps for Mosaic, Panaritis serves as the engineering business enterprise lover for the income, advertising and marketing, finance, functions and persons functions departments. She brings a tested observe record in go-to-market place, finance and functions technologies alternatives to Mosaic and most not long ago worked at LightSpeed Commerce and J.D. Electric power.
“We are honored to have Kim McNealy and Noura Panaritis join our group,” claimed Moore. “Their special and persuasive encounter, coupled with their enthusiasm for growth, make us very enthusiastic for the effect they will have on advancing our mission.”
Mosaic makes funding photo voltaic, photo voltaic plus electrical power storage techniques and other sustainable residence enhancements available and reasonably priced for home owners by offering a rapid and quick way to utilize for funding solutions. Customers master about Mosaic as a result of authorised photo voltaic installers and house enhancement contractors, as effectively as other ecosystem associates, and can get a credit choice in minutes for no funds down financial loans with preset desire costs and several term selections. Funding utilized for and processed via the Mosaic system is originated by Photo voltaic Mosaic LLC or 1 of its lending/funding companions. For our network of countless numbers of photo voltaic installers and household enhancement contractors, Mosaic supplies a streamlined funding platform to push profits expansion. Since 2012, Mosaic has aided additional than 220,000 households swap to sustainable house advancements with its funding merchandise.
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