EIS specialist IW Capital has just completed a £2.2m funding round for SaveMoneyCutCarbon, an energy and water savings consultancy and online retailer.
SaveMoneyCutCarbon offers an energy and water savings consulting service and works with businesses, organisations and homes to reduce energy, water consumption and operating costs. The company has achieved 750% growth in four years.
The private investment house IW Capital has previously led successful fundraising rounds for British scale-ups including peer-to-peer currency exchange platform WeSwap, online dog-sharing community BorrowMyDoggy and British craft brewery Brewhouse & Kitchen.
SaveMoneyCutCarbon said that it will use the funding to drive forward awareness of the company brand and publicise 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.
Investment Director at IW Capital Tim Lawrence said: “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 (CEO, above left) and Charlie Farr (Chairman, above right) said: “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.”