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Green

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Making energy simple through technology

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Funded 2 Jul 2020
£120,009 target
£286,262 from 0 investors
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Business overview

Location Newcastle upon Tyne, United Kingdom
Social media
Website green.energy
Sectors Energy Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11042716
Incorporation date 1 Nov 2017
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Investment summary

Type Equity
Valuation (pre-money) £8.8M
Equity offered 1.35%
Tax relief

EIS

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Business highlights

  • 40,000 members in first 12 months
  • 24/7 Customer support with 5 Star Trustpilot Rating
  • Bespoke Platform - Built In House
  • 100% Green Electricity & Carbon Neutral Gas Tariffs
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Key features

  • Secondary Market
  • Seedrs nominee min. £17.54 +
  • Idea
  • Team
  • Updates
  • Investors 0
  • Discussion
  • Documents

Idea

Introduction

We are a North East based, tech-focused energy supplier, set up with three main goals; to utilise our bespoke technology to make managing energy simpler, offer outstanding customer support through many channels with extended phone line hours and 24/7 live chat and finally offering 100% green electricity.

We aim to take the best bits from the challenger banks - a seamless tech experience, excellent customer support and fair, transparent pricing - and bring it to energy supply.

Substantial accomplishments to date

Within the first 12 months of launching Green, we have grown to over 40,000 members with strong month-on-month growth. In May alone we made £2.7m in revenue*.

Our Members & Growth:

• 4.8/5 on Trustpilot with over 3,200 reviews

• 7 am - 11 pm phone support, 24 hour chat support, 7 days a week

• All UK based customer support

• Only a 5.7% member loss rate over all time

• Peak of over 2,000 members in one week

• 1 in 10 quotes on our website switch to us immediately

• Even coverage across the UK

• Only 6 in 10,000 customers raise a complaint (Apr 2020)

Our Employees & Office:

We ensure our employees are happy and excited to work within a company that is pioneering technology in the energy space. We have grown to 40 employees since launch in June 2019 across all our support, back-office and digital roles.

Our Platform:

• Bespoke and built in house from the ground up

• V3 launched June 2020 with a new design guideline and full landlord dashboards

• 86.5% platform utilisation on a regular basis

• Transparent and documented APIs for members, service accounts and landlords

• Anonymous tracking for conversion optimisation and better user experience

• Bank-level security with magic links and OTP (one-time passcode)

• Bespoke Data Studio automating day to day tasks and insightful real-time dashboards for operational use which uses both trend and predictive analysis

*Based on unaudited accounts.

Monetisation strategy

Marketing & Direct:

We invest heavily on our tailored marketing campaigns to drive high converters to our site may that be via ads on Google/Bing/Social Media or our own organic strategy.

We see on average 10% of all traffic will switch on a daily basis via our website with our extensive CRO research and our CPA reduction analysis.

Comparison Sites:

We have built great relationships with comparison sites, auto-switching services and managing agents. Offering bespoke tariffs for each platform through to enabling API direct sales and bespoke systems built for them to utilise. This leads to a great package for both parties and we see a lot of sales driven through these channels.

Use of proceeds

Business & Smart Prepayment Offering

Bringing our offering to the business and prepayment side utilising our smart technology and apps.

This would include the operational infrastructure, technology implementations and support channels.

Tailored Marketing & Development

Utilising our Data Studio to really focus on targeting the best audiences that will have a high conversion to switch and stay with us. We also intend to start using new marketing channels and build even more relationships with high sale rate partners.

We will also be investing in our current technology with heavy research and development to really set us apart from anything in the energy space including plans with Google Assistant/Amazon Alexa, adaptive app UI and a simple smart meter booking system via our app.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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Seedrs Limited is authorised and regulated by the Financial Conduct Authority (No. 550317).

© Seedrs Limited 2021. All rights reserved. Seedrs is a registered European Community trademark (No. 008771537) and registered United States service mark (No. 85423072) of Seedrs Limited, a limited company registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London EC1V 9BW, United Kingdom, VAT No. GB 208 3065 32. Seedrs.com is a website owned and operated by Seedrs Limited.

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This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
Valuation rounded from £8,770,000

Pitch type

There are 4 types of investment pitch available on Seedrs.

  • Equity
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Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Seedrs nominee

This shareholding type is available with this raise.

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.