Sunsave secures £5.4m seed investment led by Norrsken to scale its domestic solar subscription model.
Norrsken led the seed round alongside IPGL, Plug and Play, and notable angel investors.
Sunsave is the UK first FCA-authorised solar subscription provider, offering fully maintained rooftop installations without upfront costs. The business combines hardware, software and financing to help households reduce their energy bills.
Sunsave has raised £5.4m in a seed funding round led by Norrsken. The capital will be deployed towards product development for the solar subscription model and expanding the team with industry specialists. Additional backing came from existing investors and prominent angels.
The company recently secured regulatory approval from the Financial Conduct Authority to offer domestic solar installations without requiring large upfront lump sums. The fresh injection of funds brings Sunsave total capital raised to £9.2m since its inception.
From the founder
"We’re demonstrating to UK consumers that being green doesn’t have to be a choice between doing what’s right for the environment or doing what’s best for your pocket. With Sunsave’s solar subscription you can go green and save money immediately. With energy prices expected to remain elevated for the foreseeable future, this is more important than ever."
Alick Dru
Co-founder and CEO at Sunsave
Investor perspective
"Sunsave’s new offering removes the biggest barrier to entry for people in the green transition: cost. This FCA-approved subscription service is a gamechanger, enabling thousands more homeowners to unlock the potential of renewable, cost-efficient solar energy every year. We’re thrilled to back Alick, Ben and the team as they help build the UK’s path to a cleaner, more sustainable future."
Agate Freimane
General Partner, Norrsken
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Agate Freimane
Norrsken
IPGL
Plug and Play
Stuart Rose
Michael Spencer
Roland Rudd
Bill Nussey
Bill Nussey
Categories
About the company
Sunsave
Sunsave operates a solar subscription service that removes upfront installation costs for households.