Sunsave, a U.K.-based solar subscription service provider, has secured £113 million (~$151 million) in an oversubscribed funding round.
The funding includes a £100 million (~$134 million) debt facility from Crédit Agricole CIB as well as £13 million (~$17 million) in Series A equity from a co-led round by Norrsken VC and IPGL.
New equity investors include Clearance Capital and early employees from Wise. Existing investors included ICAP founder Lord Michael Spencer, former Asda chairman Lord Stuart Rose, and FGS Global founder Roland Rudd.
Aiming to be an all-in-one home energy platform, the company offers solar subscription services like Sunsave Plus. This service provides a solar and battery system that is installed at no upfront cost. Instead, users pay a fixed monthly fee and can access the electricity generated for use in their homes. Any excess electricity not consumed is sold back to the grid.
The funding will help the company to expand its solar subscription program across England and Wales.
“This £113 million fundraise is a significant milestone in our journey – it will let us meet rapidly growing demand, launch new products, and give customers peace of mind that we’ll be here to support them for the long term,” said Alick Dru, CEO, Sunsave.
In 2023, Sunsave raised £5.4 million (~$6.79 million) in a funding round led by Norrsken, a European-based impact venture capital fund that has previously invested in other green businesses such as Northvolt and 1KOMMA5.
According to Mercom’s 1H 2025 Solar Funding and M&A report, solar debt financing activity in 1H 2025 reached $7.8 billion across 41 deals, representing a 41% decrease compared to 1H 2024, when $13.2 billion was raised in 51 deals.
Recently, GIGA.GREEN, a commercial solar energy solutions provider, closed a €30 million (~$35 million) revolving capital expenditure facility. The funding was provided by Kommunalkredit Austria, a European specialist bank based in Vienna, which focuses on financing infrastructure projects in the energy, environmental, social, transport, and communications sectors.
