Service 1st Financial Raises $20 Million to Drive Decarbonization in the Home Comfort Space
BETHESDA, Md. — Service 1st Financial LLC, a financial technology, innovation, and training company serving residential home service contractors, announced the initial close of its Series B funding co-led by S2G Ventures. The company simultaneously closed on a subordinated debt facility also led by S2G Ventures. In total, Service 1st secured new capital commitments of over $20 million. In 2019, Service 1st was incubated by founder and CEO, Anuj Khanna, and Thayer Street Partners with the goal of transforming the way home comfort is purchased and sold in the United States.
With heating, cooling, and plumbing system replacements continually rising in cost, Service 1st's Premier Program offers homeowners a service to replace and upgrade their home comfort systems. For a monthly payment, homeowners receive the latest energy-efficient equipment, while eliminating the common pain points associated with owning, maintaining, and repairing such systems. The Premier Program aligns with the company's commitment to advancing sustainability by fostering more rapid replacement of older, inefficient systems, incentivizing consumers to opt for high-efficiency systems and ensuring that such systems are properly maintained.