Hometree closes $46m Series B funding round to expand residential energy solutions
The round was led by 2150 and Energy Impact Partners alongside Legal & General Capital.
≈ £36.7M at $1 = £0.7984 on 13 Apr 2023
Hometree is a residential energy services provider based in London that offers home cover, maintenance, and renewable energy solutions.
Hometree has secured $46m in a Series B funding round to expand its residential energy services and accelerate its renewable installation and financing business. The investment was led by 2150 and Energy Impact Partners, with participation from Legal & General Capital, Inven Capital, Oxford Capital, FJ Labs, AENU, and Frank Strauss.
The company will use the capital to scale its renewable installation and financing operations, following its acquisition of the green home improvement financing platform BeWarm. Hometree aims to position itself as a leading provider of residential energy efficiency solutions across Europe.
From the founder
"This funding round and acquisition of BeWarm marks a significant new chapter for Hometree, enabling us to deliver on our long-held vision of building the leading residential energy efficiency platform across Europe. The recent energy crisis has shown that we can’t remain reliant on foreign gas to heat and power our homes, and Hometree has a key role to play in helping homeowners transition to a more safe, stable and affordable energy system."
Simon Phelan
CEO at Hometree
Investor perspective
"Homeowners want to lower their energy bills while retaining comfort in their own home, but many don’t know how to get started. Hometree’s business model combines a low cost home cover insurance product to build a trusted relationship with advice, and now financing for each home to choose the right path for its own decarbonisation journey. We have known Simon and Hometree for many years and look forward to supporting this next stage of their growth and the impact it will have on millions of homes and our global fight against climate change."
Christian Hernandez Gallardo
Co-Founder & Partner, 2150
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Christian Hernandez Gallardo
2150
Nazo Moosa
Energy Impact Partners
Legal & General
Inven Capital
Oxford Capital
FJ Labs
AENU
Frank Strauss
Categories
About the company
Hometree
Hometree provides residential energy services and home cover solutions.