Sunsave, a London-based energy startup offering a solar subscription service, has bolstered its coffers with a £113m round, split between an equity investment and debt facility.
Founded in 2022, Sunsave aims to become an “all-in-one home energy platform” that would include software, hardware and financing.
The company was formed to address the market of UK households interested in solar panels, but put off by the upfront costs, typically in the thousands.
Sunsave is instead offering a subscription model that removes the upfront costs, instead charging fixed monthly payments. It also offers a financing option that allows customers in its Sunsave Plus category to fully own the equipment.
“Sunsave was founded with a mission to make solar and battery storage accessible to all UK households,” said Sunsave co-founder and chief executive Alick Dru.
Dru’s co-founder and Sunsave chief operating officer Ben Graves added: “Our customers don’t just want solar for the environmental benefits. Going solar can save you real money and help protect you from volatile energy bills. This funding validates our vision of making clean energy accessible and cheap to every UK household.
“We’re not just selling solar panels – we’re rebuilding the relationship between households and energy, making it more affordable, sustainable, and customer-centric.”
The new funding is made up of a £13m Series A equity investment, co-led by Norrsken VC and IPGL, as well as a £100m debt facility from Crédit Agricole CIB.
“Sunsave has cracked the code on making affordable solar a reality for the mainstream, removing the upfront cost that’s long held households back from making the switch,” said Agate Freimane, general partner at Norrsken VC.
“In just a short period of time, they’ve shown outstanding traction, solid unit economics, and secured strategic partnerships that set them apart. With the UK solar market on the brink of major growth, Sunsave is perfectly positioned to become a category-defining force in the energy transition.”
Additional investors in the equity round include Clearance Capital and a handful of angels.
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