Boiler Plan secures £1.5m Series A funding led by Maven to scale operations
Maven led the £1.5m Series A investment to support platform development and infrastructure expansion.
Boiler Plan operates an online platform that manages the sale, installation and servicing of boilers across the UK. The business aims to simplify domestic heating procurement through a digital first approach.
Boiler Plan has secured £1.5m in a Series A funding round led by Maven Capital Partners. The financing includes £500k from the North East Development Capital Fund, £250k from NPIF Maven Equity Finance, and £750k backed by the Future Fund.
The capital will be directed towards developing a new operating platform to improve operational infrastructure and efficiency. In addition, the funds will support the establishment of a technical training centre in Featherstone and facilitate broader expansion across the market.
From the founder
"Both myself, our Directors and the whole team at Boiler Plan are delighted to receive this additional funding from Maven Capital Partners. The Maven team have been extremely supportive since their first investment in 2018 and they been there for us when we have needed them to further support our ambitious growth targets, both with follow on capital investment and strategic business decisions. This latest investment round will allow us to develop our software platform as well as create further jobs, which in turn will drive further efficiencies in our operating model and allow us to scale even faster."
Ian Henderson
Managing Director and Founder at Boiler Plan
Investor perspective
"It was a pleasure to work with Ian and the team and support their rapid growth. Our latest investment in Boiler Plan is a real testament to what the business has achieved so far, and the funding package is a great example of our regional funds working together to allow a British business to capitalise on new market opportunities across the UK."
Peter Smith
Investment Associate, Maven Capital Partners
Use of funds
- 01Build out infrastructure
- 02Scale operations
Investors
Peter Smith
Maven Capital Partners
North East Development Capital Fund
NPIF Maven Equity Finance
Future Fund
Categories
About the company
Boiler Plan
Boiler Plan provides an online platform for purchasing and servicing boilers.