London-based solar subscription startup Sunsave has secured £113 million (around €130.5 million) in a combination of £13M in Series A equity and a £100M debt facility from Crédit Agricole CIB.
The equity round was co-led by Norrsken VC, IPGL, and others, including Clearance Capital and early employees from Wise. Notable existing investors like Lord Michael Spencer, Lord Stuart Rose, and Roland Rudd also boosted their commitments.
Making Rooftop Solar Mainstream
Founded in 2022 by Alick Dru and Ben Graves, Sunsave aims to remove the financial barriers preventing British households from adopting solar technology. The company’s flagship product, Sunsave Plus, offers a zero upfront cost model with fixed monthly payments starting at £69, covering everything from installation to 20 years of maintenance and insurance.
“Sunsave has cracked the code on making affordable solar a reality for the mainstream,” said Agate Freimane, General Partner at Norrsken VC. “With the UK solar market on the brink of major growth, Sunsave is perfectly positioned to become a category-defining force in the energy transition.”
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Strong Customer Demand and Future Plans
Since launching its subscription model in January 2024, Sunsave has grown over 32% month-on-month, now operating across England and Wales. Customers reportedly save an average of £685 per year on energy costs, with fixed payments that protect them from price volatility.
“This fundraise is a significant milestone—it will help us meet growing demand, launch new products, and support our customers for the long term,” said CEO Alick Dru. Co-founder and COO Ben Graves added, “Our journey shows there’s massive pent-up demand when you remove the biggest barrier: upfront costs.”
Eyeing the Future of Household Energy
The company plans to expand into adjacent services, including EV chargers, heat pumps, and energy management software to optimize tariffs and contribute to grid balancing.
The startup has raised over £22M in equity to date and received an additional £2.2M grant from the UK government’s Green Home Finance Accelerator. With 40 employees and multiple industry certifications (MCS, HIES, NAPIT, and more), Sunsave is pushing toward reshaping how UK households interact with energy.
