Sunlight Financial and Demand IQ Partner to Enable Homeowners to Pre-Qualify for Financing While Shopping for Solar Online

Rhea-AI Summary

Sunlight Financial Holdings (NYSE: SUNL) has announced a strategic partnership with Demand IQ, enhancing the online solar shopping experience. This integration allows homeowners to pre-qualify for solar financing while shopping online, leveraging Sunlight's Orange® platform and Demand IQ's Stella™ tool. The partnership aims to streamline the sales process for over 1,000 solar contractors by reducing customer acquisition costs and increasing transparency for homeowners. Sunlight's technology will automate lead qualification directly into their system, promoting efficiency and reducing manual errors. This collaboration reflects a commitment to improving the residential solar market through innovative technology.

Positive

• Partnership with Demand IQ enhances online solar shopping experience.
• Integration allows for pre-qualification of financing for homeowners.
• Streamlines sales process for over 1,000 contractors, reducing customer acquisition costs.
• Automates lead qualification, increasing efficiency and reducing errors.

Negative

• None.

NEW YORK & CHARLOTTE, N.C. & DENVER--(BUSINESS WIRE)-- Sunlight Financial Holdings Inc. (“Sunlight Financial”, “Sunlight” or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale finance company, and Demand IQ, a leading provider of solar sales and marketing enablement software, today announced a strategic partnership that will enable homeowners to pre-qualify for financing while shopping for solar online. The integration of Sunlight’s technology platform, Orange^®, with Demand IQ’s interactive lead funnel, Stella™, will facilitate the purchase of residential solar and storage systems.

“We’re thrilled to pair Sunlight Financial’s pre-qualification technology with Demand IQ’s lead funnel enablement software to improve the experience of buying solar,” said Matt Potere, CEO of Sunlight Financial. “Sunlight’s integration with Demand IQ will make it easier and quicker for homeowners to shop for solar online and help the more than 1,000 solar contractors that partner with Sunlight to sell solar more efficiently, more effectively, and with greater transparency.”

Homeowners will benefit from a frictionless process that combines Demand IQ’s online solar savings estimate with Sunlight’s instant pre-qualification for a solar loan. Contractors that add Demand IQ’s user-friendly tool, Stella™, to their websites will benefit from an integrated experience that: qualifies leads; populates leads directly into Sunlight’s Orange^® platform, eliminating the need for the manual, error-prone entry of leads in multiple platforms; and converts leads into appointments set with homeowners. Sunlight’s partnership with Demand IQ aims to reduce contractors’ cost of customer acquisition by enabling contractors to focus their sales and marketing spend on customers that are pre-qualified for financing.

“Empowering homeowners with a self-guided online solar shopping process that includes pre-qualification for financing increases transparency and shopper confidence,” said Austin Rosenbaum, CEO of Demand IQ. “Integrating Sunlight and Demand IQ’s technologies makes online solar shopping an educational and interactive experience that will lower customer acquisition costs.”

Solar contractors that already partner with both Sunlight Financial and Demand IQ should contact their account managers to enable pre-qualification within Demand IQ’s homeowner-facing qualification survey. Prospective partners can learn more and apply to partner with Sunlight and Demand IQ at https://sunlightfinancial.com/enroll/ and https://demand-iq.com/contact.

About Sunlight Financial

Sunlight Financial (NYSE: SUNL) is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.

About Demand IQ

Demand IQ is a software company that provides solar contractors with digital marketing tools that convert clicks into booked appointments, entirely online. Powered by Google’s Project Sunroof, Demand IQ’s patent-pending, interactive technology provides homeowners with instant and customized estimates of the money they’ll save by going solar. Demand IQ helps solar contractors generate exclusive leads, boost marketing performance, and take control of their lead generation. For more information, visit www.demand-iq.com.

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may generally be identified by the use of words such as “could,” “should,” “would,” “will,” “may,” “believe,” “anticipate,” “outlook,” “intend,” “estimate,” “expect,” “project,” “plan,” “continue,” or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: the ability to consummate a strategic alternative in the timeframe and on terms and conditions favorable to Sunlight and its stakeholders, material adverse impacts from macro-economic conditions including unprecedented interest rate increases on business; profitability and cash-flow, risks relating to our ability to secure relief from our current bank covenants; risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; the financial performance of Sunlight’s capital providers and contractors; the willingness of Sunlight’s capital providers to fund loans on terms desired by relevant markets and economically favorable to Sunlight; the impact of inflation and increased interest rates on Sunlight’s capital providers and the cost and availability of credit from our capital providers as well as on the demand for solar panel installation and home improvement; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Sunlight’s Form 10-Q as filed with the Securities and Exchange Commission (“SEC”) on November 14, 2022, which amends and restates the risk factors set forth in Sunlight’s Form 10-K as filed with the SEC on March 29, 2022 and Forms 10-Q as filed with the SEC on May 16, 2022 and on August 15 2022, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005558/en/

Media Contacts:

Investor Relations

Lucia Dempsey

investors@sunlightfinancial.com

212.584.2321

Public Relations

Yoni Cohen

media@sunlightfinancial.com

201.808.5363

Source: Sunlight Financial Holdings Inc.

FAQ

What is the recent partnership between Sunlight Financial and Demand IQ?

Sunlight Financial and Demand IQ have partnered to enhance the online solar shopping experience, allowing homeowners to pre-qualify for financing while shopping.

How will the partnership affect solar contractors partnering with Sunlight Financial?

The partnership will streamline the sales process, reducing customer acquisition costs and increasing lead qualification efficiency for solar contractors.

What technology does Sunlight Financial use in its partnership with Demand IQ?

Sunlight Financial utilizes its Orange® platform integrated with Demand IQ’s Stella™ tool for pre-qualification and lead management.

How many solar contractors can benefit from the Sunlight Financial and Demand IQ integration?

Over 1,000 solar contractors currently partnering with Sunlight Financial will benefit from this integration.