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Energy broker Troo secures £500k NEVF investment

An energy broker that helps businesses to reduce bills has received a further £500,000 in funding from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia.

Sunderland-based Troo will use the investment to create around 50 new jobs over the next six months.
 
Troo, which currently employs over 50 staff, has doubled its turnover each year for the past two years and is on course to do so again in the coming year.
 
The latest funding round brings the total raised to date by Troo to £1.5 million. As part of the investment, Peter McLeod has joined the board from Total Energies in the new Sales Director role. McLeod brings eight years of experience of business development and marketing in the energy supply sector and will support Troo to enrich its sales pipeline.

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