Mosaic Names Patrick Moore CEO; Founder Billy Parish to Become Executive Chair of the Board

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01 Aug, 2023, 12:45 ET

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Daniel Budington joins as Chief Financial Officer

OAKLAND, Calif., Aug. 1, 2023 /PRNewswire/ -- Mosaic, a leading fintech platform for U.S. residential solar and energy-efficient home improvements, today announced that President and Chief Operating Officer Patrick Moore has been named Chief Executive Officer. After leading the company for 13 years and serving as CEO since 2015, founder Billy Parish will become Executive Chair of the Board.

Additionally, Daniel Budington will be joining the company as Chief Financial Officer. He joins from Santander, where he spent nearly a decade in various strategy, corporate development and finance roles, including most recently serving as Chief Strategy Officer and previously as Head of Financial Planning and Analysis. Outgoing CFO Melissa Ballenger will become a senior advisor to the board and will continue to consult for the company.

In his new role as Executive Chair, Parish will focus on strategy, major partnerships and policy work to advance Mosaic's vision of 100% clean energy for all and accelerate the growth of residential clean energy solutions. Parish, who founded the company more than a decade ago, will continue to play a key role at both Mosaic and with industry coalitions.

Incoming CEO Moore has been Mosaic's President and COO since November 2017. He has more than 30 years of experience in consumer lending and operations, having previously served as COO of Renovate America, Genesis Financial Solutions and Toyota F.S.B., in addition to over seven years at Capital One and serving as an officer in the U.S. Navy. In each of his COO positions, Moore launched and scaled successful point of purchase financing businesses.

Incoming CFO Budington brings deep expertise in balance sheet and capital management, financial planning and analysis, pricing, funding and capital markets. Prior to Santander, he was a financial institutions investment banker with Guggenheim Partners, Deutsche Bank, and Merrill Lynch.

Mosaic founder and Executive Chair Billy Parish said, "Patrick has been an invaluable part of Mosaic's success during his six years as President and COO. As Mosaic enters its next phase of growth, his operational and consumer lending skills will be more important than ever. We will continue to work in complementary ways to increase the awareness and accessibility of sustainable home improvements."

Mosaic CEO Patrick Moore said, "Billy isn't just the founder of Mosaic; he's the founder of the modern residential solar lending industry. Billy has been working to fight climate change for two decades as an activist, political influencer, author and entrepreneur. I'm honored to build on the work he has done to help millions of homeowners, contractors and capital providers benefit from the shift to clean energy."

Moore added, "As Mosaic grows through new products and partnerships, we're thrilled to bring on Dan's expertise in strategic finance and capital markets. With his experience at some of the world's most respected financial institutions, Dan is the perfect person to add to the work Melissa has done to transform our finance department, building the company's strategic and operational acumen and creating the strongest finance, capital markets and accounting function in the industry."

Parish co-founded Mosaic in 2010 as a crowdfunding platform for community-scale solar projects. In 2014, the company shifted from crowdfunding to providing finance options for residential solar projects, later expanding to finance a broad array of sustainable home improvements. The company created the industry's first 20-year and 25-year solar loans, first battery-only loan, and the first solar loan option with no payments for 18 months. To date, Mosaic has funded $14 billion in loans for residential solar and sustainable home improvements.

About MosaicMosaic is an industry-leading fintech platform for sustainable home improvements. With deep, strategic partnerships and a network of thousands of contractors nationwide, we empower homeowners to unlock greater savings, resilience and value in their homes. Founded in 2010, Mosaic is a pioneer in clean energy lending and continues to provide innovative solutions for financing solar, battery storage, heat pumps and more. We doubled our funding volume in 2022 and have funded $14 billion in loans to date, helping more than 370,000 households make their homes more sustainable and save money on their utility bills. Our financing options unlock billions of dollars of capital annually into high-quality ESG assets. Join us in our vision of 100% clean energy for all at joinmosaic.com

SOURCE Mosaic