Mosaic, a California-based start-up which operates an online platform that seeks investors to finance solar projects, has appointed Howard Solovei as its Vice President of Finance.
Mosaic uses a method called crowd funding. It identifies projects it deems suitable for investment, loans the developer money to finance the project and then invites the public to invest money through its internet platform to pay for the loan.
Prior to this role, Solovei was the Vice President of Finance at Lending Club where he built the financial and accounting systems required for SEC and management reporting and helped grow the company from US$10 million in loans to more than US$150 million.
“My experience in crowd-sourced lending has proven that vibrant and viable alternatives exist to traditional financial markets. Mosaic offers steady investments with competitive returns that help secure a clean, low cost and reliable energy future. I am very excited to provide an avenue for investors to vote with their values,” said Howard Solovei.
Over the past two years, nearly 1,000 people have invested over US$1.1 million in solar projects through Mosaic’s online platform. The company’s latest projects were available to residents of California and New York as well as accredited investors from around the US.