Norwegian solar marketplace Otovo has raised €40 million in funding to expand its rent-to-own online marketplace for solar panels. The company aims to capitalize on the increasing demand for solar panels as homeowners seek to increase energy security, reduce costs, and enhance property value. Otovo's rent-to-buy model aims to overcome the upfront cost barrier associated with solar panels. The funding will be used to ensure profitability and establish Otovo as the leading player in the European residential solar market. Key investors in this funding round include Nordic energy utility Å Energi, Axel Johnson Group, and the state climate fund Nysnø [42696f08].