Swedish energy startup Elvy has secured a landmark $586 million debt facility to accelerate the rollout of its integrated home energy solutions. The financing, arranged by Swedish debt funding platform Scayl alongside a banking partner, will support the expansion of Elvy’s subscription-based model across Sweden and other European markets. The company bundles solar panels, heat pumps, and home battery systems into a single monthly subscription, removing the need for large upfront investments.
A New Model for Home Energy
Elvy offers a comprehensive home energy service for a fixed monthly fee of roughly $270 over a 15-year period. The subscription covers installation, maintenance, and ongoing management of key energy assets, including solar panels and battery storage. Elvy’s proprietary AI engine continuously monitors and optimizes household energy generation and consumption to improve efficiency and reduce reliance on the grid.
The company says customers can reduce energy costs by around 20%, with savings reaching up to 50% in some cases. By eliminating high upfront costs and locking in predictable pricing, Elvy aims to make advanced home energy systems accessible to a broader base of homeowners, even in volatile energy markets.
Securing a Landmark Financing Deal
The $586 million was raised entirely through a debt facility, which CEO and cofounder Johan Outinen described as unusual for projects of this scale. The transaction was structured by Scayl in partnership with one of its banking partners, with Scayl’s CEO highlighting Elvy’s ability to deliver a net-positive economic outcome for customers from day one.
The fundraising process was delayed by approximately two and a half months, temporarily pausing rollout plans and forcing the company to revise its near-term financial targets. As a result, Elvy now expects 2025 revenue of SEK 100 million (about $10.5 million), down from an earlier target of SEK 500 million (about $52.7 million).
Strategic Expansion on the Horizon
With the debt facility secured, Elvy is recalibrating its international expansion strategy. While Germany was initially targeted as its first major foreign market, the company is now in advanced discussions with large energy companies in eastern Europe, where demand for decentralized energy solutions has increased following efforts to reduce dependence on Russian energy.
Elvy plans to enter these markets through partnerships, providing both its software platform and access to its new debt financing. This approach is designed to lower execution risk and avoid capital-intensive standalone expansion. The company expects to sign a partnership and go live with a major international player in the first half of 2026.
This debt financing marks a pivotal moment for Elvy, validating its subscription-led approach to residential energy systems. The capital positions the company to serve tens of thousands of additional households while pursuing a more partnership-driven path to international growth, contributing to Europe’s broader transition toward decentralized and sustainable energy infrastructure.