Troo, a Sunderland, UK-based energy broker that allows businesses to reduce bills, raised £500K in funding.
The round was led by North East Venture Fund (NEVF),supported by the European Regional Development Fund and managed by Mercia.
The company intends to use the funds to strengthen their team doubling its headcount.
Launched in 2018 by Andrew and Rachel Richardson, Troo offers complete visibility on commission costs, and also provides customers with energy monitoring and tailored advice on how to save energy.
The company, which currently employs over 50 staff, has doubled its turnover each year for the past two years and is on course to do so again in the coming year.
As part of the investment, Peter McLeod has joined the board from Total Energies in the new Sales Director role. McLeod brings eight years of experience of business development and marketing in the energy supply sector and will support Troo to enrich its sales pipeline.
FinSMEs
30/05/2022