Green energy consultancy SaveMoneyCutCarbon has raised £2.2m
Green energy consultancy SaveMoneyCutCarbon, which advises businesses and individuals on how to make savings with their energy and water bills, has closed a £2.2m funding round as it looks to scale across the UK.
The round, which has been led by Mayfair-based IW Capital, will support the firm’s push to promote its brand and build on its works with clients including hospitality groups, distribution centres, healthcare organisations, SMEs and others.
It comes after some impressive growth for the business over the last four years, which has seen business grow by 750% with clients utilising the Suffolk-based firm’s services to reduce their carbon footprint and manage their energy and water usage.
SaveMoneyCutCarbon Co-Founders Mark Sait and Charlie Farr said in a statement: “We are pleased to welcome IW Capital as a shareholder and Tim Lawrence to the board.
“IW Capital and their portfolio of investors can add not only growth capital, but a range of sector and experience that can only further support us as we enter the next stage of our development.”
The funding round marks another investment for private equity house, IW Capital, which has also recently completed investments in UK scaleup businesses WeSwap, BorrowMyDoggy and craft brewery brand Brewhouse & Kitchen.
Tim Lawrence, Investment Director at IW Capital, said that SaveMoneyCutCarbon was becoming the go-to operator in the sector, with its range of services establishing the firm as a ‘digital one-stop-shop’.
He commented: “SaveMoneyCutCarbon is on path to becoming a digital one-stop-shop marketplace for energy, water savings and all things linked to sustainability, cleverly leveraging the best of two worlds – e-commerce and consultative project business.
“We believe they are on the way to becoming the go to brand for homes and organisations that want to move beyond box ticking on the green or carbon agenda, and really start reducing their energy and water bills.”