UK-based private investment house IW Capital has completed the first close of a £2.2 million funding for SaveMoneyCutCarbon. The company is an energy and water savings consultancy and online retailer.
SaveMoneyCutCarbon works with organizations and homes to reduce energy and water consumption and cut operating costs and currently has a multi-million pound turnover. SaveMoneyCutCarbon offers in-demand services extending from property surveys and investment-grade proposals to product installation. EIS specialist IW Capital says SaveMoneyCutCarbon has experienced 750% growth during the past four years.
The new funding will be used to drive awareness of the company brand, publicizing 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.
“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,” said Tim Lawrence, Investment Director at IW Capital.
IW Capital is a private investment house that has facilitated over £60 million worth of investment into British SMEs through the Enterprise Investment Scheme (EIS). Data for 2015-16 shows that 3,285 companies raised a total of £1,647 million under the EIS exemption. In the same period, 1,500 companies raising funds for the first time under the plan raised a total of £787 million. The private equity firm has been active in the alternative finance space and is sector agnostic with much of its portfolio heavily focused on high-growth sectors and disruptive technologies.
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