Dividend Solar Adds Consumer Finance and Solar Industry Leaders to Executive Team amidst Launch of New Loan Options and Expansion into PACE Financing
(San Francisco: September 13, 2016) – Dividend Solar (“Dividend”) announced today that it has grown its executive team, adding several leaders with deep experience from the consumer finance and solar industries. The new additions are expected to play pivotal roles in the growth of the company, which is expanding from its base as a residential solar financing company into home energy, PACE, and commercial solar financing.
Following an announcement earlier this summer, Dividend Solar and Figtree Financing have completed their merger, including a $200 million commitment from LL Funds. Dividend currently operates in 28 states across the U.S., and is now launching its PACE financing platform which allows homeowners to finance a range of home energy and efficiency improvements. Figtree Financing will continue to offer commercial PACE Financing. As part of the merger, consumer finance veteran Raj Mundy joined as the Executive Chairman of the combined company.
Chet McGensy has joined Dividend as General Counsel and Chief Compliance Officer. McGensy previously held several senior positions including Director of Policy & Electricity Markets and Regulatory Counsel as well as Compliance Counsel at SolarCity. He earlier served as Vice President and Counsel at Rabobank N.A. and Associate at Bingham McCutchen, LLP.
Vinay Gupta has joined Dividend as the Chief Product Officer. Gupta joins Dividend from Credit Karma, where he was the Vice President of Decision Science. Prior to Credit Karma, he spent nearly 15 years at Capital One in leadership roles across multiple consumer lending businesses, overseeing marketing, product and credit functions. Gupta started his career as a management consultant with Accenture.
On the technology side, Christian Steiner has taken over the role of Chief Technology Officer. Prior to Dividend, Christian led the PayPal Data Technology Business Operations, Shared Services Organization. In this role, he was responsible for the program management, training, and financial planning teams, after leading the Bill Me Later Corporate Systems team during the acquisition by PayPal. Before Bill Me Later, Christian served as Chief Technology Officer of iSKY.
“We are very excited to bring on Chet and Vinay, and are thrilled to have Christian lead our technology team,” added Mundy, Dividend’s Executive Chairman. “Our core leadership team is now in place to help drive Dividend’s evolution from a solar lender to a national leader in home energy financing.”
The company is focused on geographic and product expansion with an increased focus on home energy in addition to solar. Dividend currently operates in 28 states through its network of quality-driven solar installation partners, and will now offer homeowners and home energy partners access to expanded loan options and PACE financing on one platform.
“We are building a world-class technology and financing platform that will help usher in the next
era of home energy upgrades,” said Eric White, the CEO of Dividend. “As homeowners continue to better understand their energy usage, efficiency upgrades alongside solar are the next frontier in home energy investments.”
With the fundraise and merger finalized, the core leadership team in place, and the addition of different loan product options including PACE financing, Dividend is accelerating its growth and is positioned to lead the next chapter in solar and home energy financing nationally.
About Dividend Solar
Dividend Solar offers $0-down financing which enables homeowners to maximize the benefits of going solar while also enjoying hassle-free performance guarantees and warranty management. Founded in 2013, the company has led the shift towards the direct ownership model in solar. In 2016 the company expanded into home energy financing options to include the next frontier of energy saving upgrades. Dividend Solar’s technology platform has streamlined the credit approval and installation process, thereby lowering the cost of installing solar panels and energy efficiency upgrades for its customers and partners. Learn more by visiting www.dividendsolar.com.
CONTACT: Ryan Ahearn
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