# Enpal funding: rounds and investors

> Enpal has raised $1.0B across 2 rounds since 2023. Investors include Citibank, BlackRock and European Investment Bank. Every round with its source.

Source: https://millionrounds.com/company/enpal (Millionrounds; every figure on the page links to its filing or article)

Germany · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Enpal*

2 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Cleantech Energy

Valuation: $1.1B, Mar 2026

Funding summary Updated 26 Oct 2026

**$1.0B** raised across 2 rounds since 2023, from 2 sources

**$230M** Growth **$812M** Debt

- **Latest round:** Debt, $812M Oct 2025
- **Step-up i:** 3.5×
- **Investors:** 4

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2023 2024 2025

**$230M** Growth

**$812M** Debt

- **First round:** Growth, $230M
- **Biggest round:** $812M
- **Between rounds:** 2.8 years

## The rounds

- **Oct 2025** Debt **$812M** *4 new* [Citibank](https://millionrounds.com/fund/citi) [BlackRock](https://millionrounds.com/fund/blackrock) [European Investment Bank](https://millionrounds.com/fund/european-investment-bank) [TPG](https://millionrounds.com/fund/tpg) Source recorded
- **Jan 2023** Growth **$230M** No investor was named in the report. Reported by Firms' own news pages

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Growth** 2023 **Debt** 2025 [Citibank](https://millionrounds.com/fund/citi) [BlackRock](https://millionrounds.com/fund/blackrock) [European Investment Bank](https://millionrounds.com/fund/european-investment-bank) [TPG](https://millionrounds.com/fund/tpg)

## Everyone who backed them

[Citibank](https://millionrounds.com/fund/citi) Growth equity **1** round

[BlackRock](https://millionrounds.com/fund/blackrock) Asset manager **1** round

[European Investment Bank](https://millionrounds.com/fund/european-investment-bank) Government **1** round

[TPG](https://millionrounds.com/fund/tpg) Private equity **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=enpal).

## Also claim to have backed them

These 5 firms list Enpal as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[The Westly Group](https://millionrounds.com/fund/westly-group) VC firm Per its own site

[FinLab](https://millionrounds.com/fund/finlab) VC firm Per its own site

[Excelling Ventures](https://millionrounds.com/fund/excelling-ventures) Angel Per its own site

[Talberg](https://millionrounds.com/fund/talberg) Family office Per its own site

[Talberg Entrepreneurial Capital](https://millionrounds.com/fund/talberg-entrepreneurial-capital) Investment firm Per its own site

## Quick answers about Enpal

### Who invested in Enpal?

Enpal's investors include Citibank, BlackRock, European Investment Bank and TPG.

### How much has Enpal raised?

Enpal has raised $1.0B across 2 rounds since 2023.

### When did Enpal last raise?

Enpal's most recent round was a Debt of $812M in Oct 2025.

### What was Enpal's biggest round?

Its most recent round, $812M in Oct 2025, is also its largest on record.

### Who backed Enpal first?

Enpal's first round on record, in Oct 2025, was backed by Citibank, BlackRock and European Investment Bank and 1 others.

### What stage is Enpal at?

Enpal's latest named round is a Debt, in Oct 2025.

### Where is Enpal based?

Enpal is based in Germany.

## Companies like Enpal

In the same sector, and raised in the last eighteen months.

[**Rabot Energy** $50M · Oct 2026](https://millionrounds.com/company/rabot-energy)[**Reverion** $237M · Sept 2026](https://millionrounds.com/company/reverion)[**Nomos** $25M · Sept 2026](https://millionrounds.com/company/nomos)[**Proxima Fusion** $636M · Jul 2026](https://millionrounds.com/company/proxima-fusion)[**Anzana Electric Group** $40M · Jun 2026](https://millionrounds.com/company/anzana-electric-group)[**GALVANY** $12M · Jun 2026](https://millionrounds.com/company/galvany)

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