Oxford Capital contributes to $46m fundraiser for residential energy firm Hometree
Alternative investment manager Oxford Capital has contributed to a Series B funding round for Hometree, as the London-based firm looks to grow its residential energy services offering in the UK and Europe.
Hometree successfully secured $46 million in equity funding as part of an effort led by energy and sustainability investors 2150 and Energy Impact Partners, alongside Legal & General Capital.
With support from Oxford Capital and a host of other returning and new investors, Hometree is now looking to compete with British Gas and HomeServe in the UK home cover market.
David Mott, Founder Partner at Oxford Capital, said: “We were one of the first investors to back Simon Phelan and his team at Hometree and are delighted to continue investing, particularly as the need to challenge the industry energy giants has never been stronger.
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“The business is delivering both strong organic growth and focusing on strategic acquisitions and we’re looking forward to seeing what’s next as the company continues on its mission to help millions of homeowners.”
The latest fundraiser comes alongside the company’s recent acquisition of BeWarm, a financing platform which offers green loans, leases, and further advances on mortgages.
Hometree aims to put most of the new capital towards its new renewable installation and financing business streams to help UK homeowners make green upgrades.
Simon Phelan, CEO of Hometree, added: “This marks a significant new chapter for Hometree, enabling us to deliver on our long-held vision of building the leading residential energy efficiency platform across Europe.
“The recent energy crisis has shown that we can’t remain reliant on foreign gas to heat and power our homes, and Hometree has a key role to play in helping homeowners transition to a more safe, stable and affordable energy system.”
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