Mosaic secures $220 million equity financing led by Warburg Pincus

By Wendy Van Sickle

Columbus, Ohio, Aug. 4 – Mosaic said it has secured an equity financing of up to $220 million led by global private equity firm Warburg Pincus.

Core Innovation Capital and Obvious Ventures also participated in the round. Mosaic said in a press release that it will use the funds to continue its growth in the rooftop solar loan market.

Mosaic provides financing to homeowners to purchase rooftop solar systems.

“We are excited about partnering with the company as it continues to grow its footprint in solar and adjacent verticals,” Arjun Thimmaya, managing director of financial services for Warburg Pincus, said in the release.

The equity from this investment is coming from affiliates of Warburg Pincus Private Equity XII, LP and Warburg Pincus Energy, LP.

Guggenheim Securities, LLC acted as Mosaic’s sole placement agent in connection with the transaction.

Mosaic is based in Oakland, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.