IW Capital has completed the first close of a GBP2.2 million funding round for SaveMoneyCutCarbon – a UK-based business focused on enabling its clients to reduce their energy and water bills.
In a market increasingly conscious about energy efficiency and carbon output, SaveMoneyCutCarbon offers in-demand services extending from property surveys and investment-grade proposals to product installation.
The company has experienced 750 per cent growth in four years and has a multi-million pound turnover.
Its expanding client base includes global hospitality groups, retail and distribution centres, utilities companies, public sector organisations, healthcare, property ownership groups, corporate offices, and SMEs.
The funding will be used to drive forward awareness of the company brand, publicising the savings available to businesses and homes by reducing energy and water consumption. The funding will also support the company’s future plans for regional expansion across the UK.
The funding round was led by Mayfair-based private investment house IW Capital, which has previously secured growth finance for British scale-ups spanning from fintech and hospitality to medtech and the sharing economy. These include peer-to-peer currency exchange platform WeSwap, online dog-sharing community BorrowMyDoggy and British craft brewery Brewhouse & Kitchen.
Tim Lawrence, investment director at IW Capital, says: “We are very pleased to announce the completion of our investment in the company and look forward to joining the board. SaveMoneyCutCarbon is on path to becoming a digital one-stop-shop marketplace for energy, water savings and all things linked to sustainability, cleverly leveraging the best of two worlds – e-commerce and consultative project business. We believe they are on the way to becoming the go to brand for homes and organisations that want to move beyond box ticking on the green or carbon agenda, and really start reducing their energy and water bills.”
SaveMoneyCutCarbon co-founders Mark Sait and Charlie Farr say: “We are pleased to welcome IW Capital as a shareholder and Tim Lawrence to the board. IW Capital and their portfolio of investors can add not only growth capital, but a range of sector and experience that can only further support us as we enter the next stage of our development.”
