April 21, 2022
The U.S. residential solar business did certainly have a powerful first quarter this yr, experiences Mosaic. The residential solar financing firm introduced one other milestone this week, surpassing $7 billion in loans funded by way of the corporate’s platform, hitting its highest month-to-month mortgage quantity so far in March.
“There’s a growing importance of clean renewable energy as an economic engine, a climate imperative, and a matter of national security,” mentioned Billy Parish, founder and CEO of Mosaic. “The urgency to deliver affordable financing options for our partners and homeowners is growing, and Mosaic is uniquely positioned to help lead this charge.”
Mosaic additionally lately accomplished a $382.7 million securitization. This was Mosaic’s largest securitization so far and included the addition of Fitch Ratings, ranking the senior (AA-) tranche of the transaction.
Mosaic has now accomplished 12 securitizations over the course of six years, which is greater than every other solar mortgage issuer within the house. Additionally, Mosaic continues to construct new ahead move and direct origination partnerships with banks, credit score unions, insurance coverage corporations and asset managers to additional strengthen its diversified funding mannequin.
The firm added two new leaders to its workforce as properly. Kim McNealy joined as common supervisor of home enchancment and experiences to Patrick Moore, president and chief working officer. And Noura Panaritis has joined as senior vp of enterprise purposes and experiences to Nagaraju Bandaru, chief know-how officer.
McNealy oversees the home enchancment enterprise operations at Mosaic, growing, deploying and sustaining extremely aggressive services all through the home enchancment ecosystem, from OEMs, distributors and SaaS platforms, to installers and gross sales organizations. He has greater than 20 years of expertise in enterprise improvement and buyer expertise technique targeted on high-growth, technology-based corporations.
As the SVP of enterprise purposes for Mosaic, Panaritis serves because the know-how enterprise companion for the gross sales, advertising, finance, operations and folks operations departments. She brings a confirmed observe document in go-to-market, finance and operations know-how options to Mosaic and most lately labored at LightSpeed Commerce and J.D. Power.
“We are honored to have Kim McNealy and Noura Panaritis join our team,” mentioned Moore. “Their unique and compelling experience, coupled with their enthusiasm for growth, make us very excited for the impact they will have on advancing our mission.”
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Tags: Mosaic
