Hometree branches out with L&G-led funding and green financing deal
Hometree, a residential energy services provider backed by leading City investors, is tapping an arm of the insurance giant Legal & General for fresh funding after sealing the purchase of a green home improvement platform.
The capital injection - Hometree's largest to date - will be jointly led by L&G Capital, 2150 and Energy Impact Partners, the latter two of which are specialist energy and sustainability investors. The deal, which requires formal approval from the City watchdog, will represent a step towards Mr Phelan's ambition of becoming the leading provider of residential energy services in the UK and elsewhere in Europe.
Its latest fundraising has also been backed by existing investors including Inven Capital, the energy fund backed by Czech Utility CEZ Group, Oxford Capital and FJ Labs.
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