Insole

About Insole

Insole operates as a Brazilian clean-tech fintech, focusing on democratizing access to solar energy for residential, commercial, and industrial clients. Founded in 2013 by Ananias Gomes in Recife, Pernambuco, the company emerged from his long-standing interest in the energy sector, which began in his childhood and was solidified through a 12-year career at Neoenergia, the local energy distributor. Gomes, who holds an MBA from Fundação Getúlio Vargas and a Master's in Solar Energy and Technology, envisioned a business that would transform a simple electricity bill into a financial asset and an opportunity for savings.

The company's business model functions as a one-stop-shop for solar energy solutions. Insole manages the importation of solar kits, the installation of the technology on client properties, and the often-bureaucratic process of connecting these systems to the grid. A core component of its offering is the in-house financing solution, which allows customers to acquire solar panel systems with no initial investment. Clients replace their variable utility bill with a fixed payment plan to Insole, typically locking in significant long-term savings and protecting themselves from rising energy tariffs. This financial structuring positions Insole as a fintech within the renewable energy market. The company serves a client base that ranges from individual homeowners to small and medium-sized enterprises and industrial operations, primarily in Brazil's Northeast, Southeast, and Center-West regions.

A significant milestone for the company was the creation of Brazil's first FIDC (Fundo de Investimento em Direitos Creditórios) for solar energy, a securitization fund valued at R$150 million, which allowed institutional investors to access a new class of ESG-linked financial assets. This was followed in December 2021 by a R$60 million Series A funding round led by Spice Private Equity (a fund of GP Investments), with participation from Grupo Moura and Endeavor's Scale-Up Ventures. This capital was earmarked for enhancing its credit products, investing in technology, and accelerating the mass adoption of solar energy across Brazil. Despite its growth, the company is currently in a judicial recovery process, though it continues to provide its services normally.