Home energy service launches new customer scheme with £500k investment series

Today (November 12), Igloo, a smart home energy service, has launched its Refer A Friend scheme as well as a £500k funding round.

The scheme will allow existing Igloo customers to supposedly benefit from additional savings by referring new accounts.

The startup - said to see 25 per cent month-on-month growth - is raising funds on Seedrs to further develop its smart technology and expand its customer offering.

Petter Allison, former managing director of British Gas Technology & Ventures and an investor in Igloo Energy, said: “Since launching nearly two years ago, Igloo has grown substantially and now boasts a loyal base of customers who are seeing significant savings on their energy bills.

“I became involved because of the vision of the Igloo team and their desire to truly help their customers. They have differentiated themselves well and I’ve been impressed with their approach to really help their customers deliver long-term energy savings in their home.”

The company has gained over 20,000 customers in the past 18 months and has seen annualised revenues of over £25m.

Having received £1m in research and development funding in August this year, from BEIS & Innovate, Igloo is also launching a £500k investment round on Seedrs.

Funds raised will be used to continue the development of its customer platform and expand the range of energy related products and services on offer.