Sunlight Financial Holdings Inc., a leading point-of-sale finance company for clean energy and home improvement projects, has announced Timothy Parsons as its new CEO. Parsons, who was previously the COO of Sunlight, will succeed Matt Potere, who will become a strategic advisor to the company.
The appointment follows the acquisition of and investment into Sunlight by four prominent firms: Greenbacker Capital Management, Sunstone Credit, IGS Ventures, and Cross River Bank. This will enable Sunlight to offer and innovate upon best-in-class financial products in 2024.
Parsons, who has a rich experience in consumer and commercial lending, will lead Sunlight’s efforts to support solar and home improvement contractors with market-leading solutions. Sunlight has a track record of industry-firsts, such as low-cost prequalification, long-term loans, rewards programs, battery financing, and full-spectrum lending.
“As the leading financing partner for solar and home improvement contractors, Sunlight has helped homeowners across the country make modern home upgrades that are both affordable and good for the environment. I’m proud of the work the Sunlight team has done to maintain that position for so many years and appreciate the opportunity to take the helm for this next phase,” said Parsons.
“As I step into this new role, the rest of the leadership team and I will continue to deepen our relationships with contractors and capital providers, drive innovation and value at every turn, and ensure Sunlight’s long-term success.”
Sunlight is also rolling out new initiatives to enhance its service to installers and customers, such as extended payment terms, bonus rewards points, and faster payment times.
With Parsons at the helm and the backing of top-tier investors, Sunlight is committed to leading the solar and home improvement financing industry with innovative, reliable, and beneficial financial solutions.
“We are thrilled to back Sunlight Financial and its mission to revolutionize solar and home improvement financing,” said Josh Goldberg, CEO of Sunstone Credit and part of the investing consortium.
“We believe Sunlight is well-positioned to continue leading the industry, fueling innovation and expanding access to clean energy solutions.”