Case study: Unyte Energy scales business with invoice finance from Satago
Unyte Energy is an independent business which helps homeowners reduce their fuel bills and carbon footprint. The Director of the company, Craig Brown, needed funding to ease cashflow as the business grew. This is his story.
About the business
Unyte Energy’s mission is to tackle fuel poverty and help households reduce their environmental impact. The business works with boiler and insulation installers to deliver energy-saving initiatives to homeowners.
Established in 2019, Unyte Energy signed a £9m ECO deal with one of the ‘big six’ energy suppliers and achieved a turnover of £3m within just six months.
Why did the business need funding?
Craig Brown, Director of Unyte Energy, needed a solution to help the business ease cashflow as they scaled. He was particularly concerned with paying his growing team of boiler and insulation installers on time.
“Our installers are hugely important to us," says Craig, "there are lots of companies out there who have given the ECO industry a bad name by not paying their installers on time. We’ve come in with the ethos that we look after our installers and pay them early. Using invoice finance was a no-brainer as it allows us to do that.”
Satago provided Craig with a single invoice finance facility which gives him access to funds when he needs them. Satago is flexible, so Craig can choose which invoices to fund and only pays when he uses the service.
As a result, he can work with more installers, accept more contracts with energy suppliers and grow his business.
“Invoice finance works for us," says Craig, "Satago is on the ball, we get our funds in quickly so we can pay our installers. It’s as easy as that! There have been installers who have approached Unyte Energy in the past that we’ve turned away. With Satago in place and running smoothly, we can go back to them and say, ‘come and work with us!’”
The result for the business
With Satago’s funding in place, Craig feels confident that Unyte Energy will hit £12m in turnover this year.
“Satago gives us confidence that we can grow our business. We’ve had a great start to our relationship, and I can see them helping us build our group of companies. Loyalty and trust are huge for us and making sure that we have that with our utility companies, with our installers and with partners like Satago is really important.”