Carbon247 is a business that works with major energy suppliers, providing carbon-saving initiatives to eligible homes through the installation of energy-saving measures such as boilers and insulation
Having access to cash is key to making the business scalable across multiple energy providers.
Director Vaughan Roberts initially sought £500k from Satago's invoice finance facility in order to grow the business. This was then extended to £850k at Vaughan's request.
He will use funds to treat over 60,000 homes over the next 12 months, delivering £100m in lifetime bill savings.
Vaughan realistically expects the business to deliver £20m in this period.
"Having previously been a customer of Satago, I knew exactly who we needed to work with to assist with the growth of the company. Satago are second to none in the communications between their team and ours, the account was set up in record time and the speed at which you can drawdown funds is the fastest by far. All costs are given at the time of funding, giving us a full view from the outset and we can pick which invoices we want to include, and any transactions are automatically fed through to our accounting software, making it easier for our accounting team."
— Vaughan Roberts, Director, Carbon247