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Mosaic raises $200 million for U.S. home solar loans

Solar Mosaic Inc, a former crowdfunding startup that reinvented itself as a provider of home solar loans, said on Wednesday it had secured $200 million in funding that will support at least 5,000 rooftop installations.

Germany's DZ Bank and New York state's NY Green Bank provided the warehouse financing to the Oakland, California-based company, which goes by Mosaic.

The announcement marks the largest funding to date for Mosaic, which in the last two years has grown into the nation's top loan provider for residential solar installations, Chief Executive Billy Parish said in an interview.

The company offers its loans through some of the top U.S. solar installers, including Vivint Solar, SunPower Corp and NRG Energy Inc.

Mosaic's average loan amount is...