Only five years after being set up in Bury St Edmunds, SaveMoneyCutCarbon is accelerating its growth having attracted a multi-million-pound investment from London-based IW Capital.
Tim Lawrence, Investment Director at IW Capital said: “We are very pleased to have been able to announce the completion of our investment in the company and look forward to joining the board.
“SaveMoneyCutCarbon’s founders and their team’s vision is of 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 really 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. From an investor’s perspective, they have everything we look for.”
Tim Lawrence added that SaveMoneyCutCarbon has proven the value the company can bring to customers, having attracted major clients from large hotels chains, warehousing operators, schools, hospitals and public sector organisations, who have used them and their proprietary tools, to survey, identify savings opportunities, and then to supply proven products, project manage and install across the UK.
“The company is a true one stop shop and really making a complicated space easy. This is enhanced further by a strong and recognisable brand and very fast growth of online / e-commerce business. We see a huge market opportunity, as energy and water bills continue to rise.
“The strong brand is backed by a proven track record with over 750% growth in four years, a multi-million-pound turnover, experienced founders and management team – our investment will help them scale the business in the UK and potentially abroad.”
Mark Sait, SaveMoneyCutCarbon CEO said: “The funds will be used to drive forward awareness of the SaveMoneyCutCarbon brand, publicising the savings available to businesses and homes through reducing the actual levels of water and energy they use, with the added by-product of carbon reduction. Saving money first and carbon second is a more appealing message.”
He added that he was pleased that the company has been able to keep the head office in Bury – in Eastern Way – and employ and develop local staff, as there is little or no support to attract and retain fast growing businesses in the Bury area.
Holden Cook who lives in Thurston was the first staff member to join the business five years ago and is now Chief Operating Offer said that it was amazing to see the company grow in Bury St Edmunds and now employing 35 staff, delivering projects across the UK.
SaveMoneyCutCarbon optimises how its customers use online search, its unique website responding to search enquiries by building type. It attracts customers big and small as a platform for knowledge, products, manufacturer partners, savings solutions and support.
Holden Cook added: “The key is allowing smaller businesses, trade customers like plumbers and electricians, as well as homes to buy directly through the website the same proven products we have installed in larger projects, and that have delivered, measured tangible saving.
“Accessing products from the same big brand manufacturer partners gives real peace of mind, supported by reading about savings achieved from the 400 or more projects delivered across lots of building types. Whatever way a customer wants to work with us we can support that – buy online, desk-based technical sales and support, through to larger organisations who can engage with our consultative and projects teams.
“There are thousands and thousands of business, public sector building like schools and homes we can help save money up and down the UK.”
Part of the new investment will be growing new regional teams across the UK, to support customers even further. The company has already opened a Scottish Office.