Hometree, a London, UK-based residential energy services challenger brand, raised $46M in Series B funding.
The round was led by 2150 & Energy Impact Partners, alongside Legal & General Capital. Returning investors Inven Capital, the energy fund backed by Czech Utility CEZ Group, Oxford Capital, & FJ Labs are joined for the first time by impact fund AENU and angel investor Frank Strauss – the former Deutsche Bank board member & CEO of Deutsche Postbank AG.
Hometree has also acquired BeWarm, a green home improvement financing platform offering green loans, leases and mortgage advances.
The company intends to use the funds to expand operations and its business reach.
Led by Founder and CEO Simon Phelan, Hometree is a residential energy services company, which operated in the home emergency insurance/home cover market, helping people ensure their homes are running smoothly with emergency heating, plumbing and electrical repairs. Now, Hometree is supporting the lifecycle of sustainable homeownership, helping homeowners to install, manage and finance renewable energy solutions, enabling them to run their homes in a carbon neutral way.
Founded in 2018 by Rory Duff, ex Strategy Director at HomeServe and CFO of renewable financing business EcoVision, and Matthew Boyes, ex Founder of StreetLife, the UK local social network that was acquired by NextDoor in 2017, BeWarm is an innovative point of sale financing platform, which partners with local installers who use it to offer a range of financing plans to homeowners. This includes Heat Lease Plans, where homeowners can get a new energy efficient boiler or heat pump installed with nothing paid upfront, plus all the ongoing peace of mind included, arranging mortgage further advances at the point of sale to allow the purchase of green home improvements, and Green Home Loans.
FinSMEs
12/04/2023