A financing round of $46 million to back the energy startup Hometree, which furnishes homeowners with green services, has been finalised.
The company's operations encompass home protection insurance and providing financing for decarbonisation activities. This enables homeowners to arrange, administer and pay for renewable energy solutions.
Legal & General Capital, 2150 & Energy Impact Partners spearheaded the capital raising round that experienced more demand than the offering could accommodate.
Investment firms Inven Capital, Oxford Capital and FJ Labs, impact fund AENU, and angel investor Frank Strauss (the former Deutsche Bank board member and CEO of Deutsche Postbank AG) all contributed to the financing round.
Recently, Hometree has obtained BeWarm, a green home improvement financing platform, in order to promote their forays into financial services. This platform provides green loans, leases, and mortgage further advances.
Simon Phelan, CEO of Hometree, noted the importance of this funding round and the acquisition of BeWarm for the company, expressing that it will give them the chance to achieve their goal of creating the most prominent residential energy efficiency platform in Europe.
He emphasized that the recent energy crisis has made it clear that we cannot keep depending on outside sources of gas to provide energy for our households, and that Hometree has a significant part to play in aiding homeowners in their move to a more secure, consistent, and cost-effective energy system.
In 2017, Hometree secured a £1.9m funding from LocalGlobe, DN Capital, Oxford Capital, and FJ Labs.