Bury St Edmunds-based SaveMoneyCutCarbon.com secures £2m investment from IW Capital
- Credit: Archant
A west Suffolk consultancy which aims to become the “go to” brand for eco-minded businesses and households wanting to save money and reduce their carbon footprint is planning for major growth after securing a multi-million pound investment.
London-based private investment house IW Capital has injected an undisclosed sum, reportedly in the region of £2.2m, into Bury St Edmunds-based SaveMoneyCutCarbon.com.
The company, co-founded by chief executive Mark Sait and chairman Charlie Farr seven years ago, offers and “end-to-end” service including surveys to identify potential savings, project management, installation and finance.
Major sectors for firm include hospitality, education, leisure, warehousing and offices, with customers ranging from major corporates to SMEs. and it also provides a service to households.
Mr Sait 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.”
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Tim Lawrence, investment director at IW Capital, added: said: “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.”
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SaveMoneyCutCarbon currently employs 35 people at its headquarters in Eastern Way, Bury, to which it relocated last year from its former offices just outside the town at Fornham St Genevieve. It also has an office in Scotland.
A company spokesman said it was not possible, at this early stage, to say what the impact on employment in Bury might be but the investment was expected to result in “substantial” growth across the business.
Holden Cook from Thurston, who was the first employee to join the business five years ago and is now chief operating offer, said it was good to see the company already delivering projects across the UK.
“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,” he said.
“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.”