Sunderland energy broker to create up to 70 jobs following six-figure funding boost

A North East business energy broker is set to create a raft of new jobs following a six-figure investment.

Troo is set to expand its workforce following a £250k investment from the North East Growth Capital Fund supported by the European Regional Development Fund.

Set up three years ago by Andrew and Rachel Richardson, the business already has around 50 employees based at its Doxford International Business Park headquarters in Sunderland.

After securing the funding through NEL Managers, Troo is now aiming to execute growth plans which will see it create up to 70 new jobs by the end of next year.

Andrew Richardson commented: “The business energy market is notoriously opaque when it comes to the prices that energy brokers offer and what goes into reaching them.

“We set out to differentiate ourselves from the competition by being completely transparent in this respect – we don’t hide any fees or commissions within the unit rates we offer, and we always fully disclose our service costs.

“This means that customers can always see exactly what their business energy really costs, so they can always choose the right deal for their particular needs, and it’s an approach that’s seen us quickly build a successful business that’s ready to move into its next stage of growth.

He continued: “There’s much more potential in the business for us to realise and the growth plans we’re now putting into action will deliver a real step-change in our operations. Our team currently occupies around half of our headquarters building and we’re working towards filling it completely by the end of next year.”

David Thomas, investment director at NEL Fund Managers, added: “Troo has set out to offer something new within its sector and its success so far indicates how this approach has been welcomed by its growing customer base.

“The management team and business plan provided a compelling investment case and we’re looking forward to seeing its exciting growth plans being realised.”