About Spruce Finance
Spruce Finance is a company based in San Francisco (United States) founded in 2015 was acquired by HPS Investment Partners in November 2018.. Spruce Finance has raised $205 million across 5 funding rounds from investors including Investec, SVB and US Bank. Spruce Finance operates in a competitive market with competitors including SolarCity, Sunnova, Sunrun, SolarSquare and Sunlight Financial, among others.
- Headquarter San Francisco, United States
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$205 M (USD)
in 5 rounds
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Latest Funding Round
$208 M (USD), Debt – Conventional
May 02, 2019
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Investors
Investec
& 3 more
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Employee Count
Employee Count
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Acquired by
HPS Investment Partners
(Nov 19, 2018)
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Funding Insights of Spruce Finance
Spruce Finance has successfully raised a total of $205M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $208 million completed in May 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Debt – Conventional — $208.0M
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First Round
First Round
(16 Dec 2015)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2019 | Amount | Debt – Conventional - Spruce Finance | Valuation |
investors |
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| Jun, 2017 | Amount | Series D - Spruce Finance | Valuation |
investors |
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| Dec, 2016 | Amount | Debt – Conventional - Spruce Finance | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Spruce Finance
Spruce Finance has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Investec, SVB and US Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Tailored investment solutions are provided across private and liquid credit.
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Founded Year | Domain | Location | |
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Global banking, investment, and wealth management services are offered worldwide.
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Founded Year | Domain | Location | |
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Banking services are provided to innovative companies, investors, and individuals.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Spruce Finance
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Spruce Finance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Spruce Finance Comparisons
Competitors of Spruce Finance
Spruce Finance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as SolarCity, Sunnova, Sunrun, SolarSquare and Sunlight Financial, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Solar power systems are designed, financed, and installed for clients.
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| domain | founded_year | HQ Location |
Solar services are provided to residential and commercial customers.
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| domain | founded_year | HQ Location |
Solar energy services are provided to residential customers nationwide.
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| domain | founded_year | HQ Location |
Provider of solar panel installation services
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| domain | founded_year | HQ Location |
Loans for residential solar systems are financed for homeowners.
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| domain | founded_year | HQ Location |
Affordable solar power is provided to households in Kenya.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Spruce Finance
Frequently Asked Questions about Spruce Finance
When was Spruce Finance founded?
Spruce Finance was founded in 2015.
Where is Spruce Finance located?
Spruce Finance is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Spruce Finance a funded company?
Spruce Finance is a funded company, having raised a total of $205M across 5 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $105.4M, raised on Dec 16, 2015.
What does Spruce Finance do?
Spruce was founded in 2015 and is headquartered in San Francisco, United States. Operations are centered in the renewable energy finance sector, where financing options for residential solar installations are offered to homeowners. Services include loans and payment plans tailored to solar projects, supporting adoption in the U.S. market. The company focuses on accessible financial solutions without direct involvement in installation.
Who are the top competitors of Spruce Finance?
Who are Spruce Finance's investors?
Spruce Finance has 4 investors. Key investors include Investec, SVB, US Bank, and HPS Investment Partners.
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