Sunlight Financial Holdings Inc. (“Sunlight”), a leading point-of-sale finance company advancing the clean energy transition with technology-driven solutions, today announced a significant transaction in partnership with Cross River Bank (“Cross River”). Together, Sunlight and Cross River sold a pool of approximately $300 million in solar loan assets, demonstrating strong market confidence in Sunlight-sourced solar loans. The pool was acquired by a leading international investment entity renowned for its forward-thinking approach and substantial financial footprint.
"The quality and performance of Sunlight's solar loan assets are a testament to the company's diligence and innovative approach,” said Noah Cooper, Chief Investment Officer of Cross River. “This transaction affirms investor trust and ongoing value in the residential solar sector."
Coupled with the recent capital infusion, this move signals Sunlight's strong comeback and financial resilience while setting the stage for renewed expansion. Looking ahead, Sunlight is poised with a strong pipeline of innovative financing solutions and initiatives, reaffirming its commitment to installation partners and the market’s demand for its assets.
About Sunlight Financial
Sunlight Financial is a technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for contractors and homeowners. For more information, visit www.sunlightfinancial.com.
About Cross River Bank
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240110708001/en/
Contacts
Rich Recchio
Rich.Recchio@sunlightfinancial.com
RJ Bruce
rj@reputationpartners.com
