Troo, a Sunderland, UK-based energy broker that allows businesses to reduce bills, raised £500K in funding.
The round was led by North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia.
The company plans to use the funds for team strengthening and doubling its headcount.
Troo was launched in 2018 by Andrew Richardson and Rachel Richardson. It provides complete transparency on commission costs and offers customers energy monitoring and customized advice on how to save money.
The company employs more than 50 people and has already doubled its turnover over the past two years. This trend is likely to continue in the future.
Peter McLeod from Total Energies has taken on the role of Sales Director as part the investment. McLeod’s eight-years of experience in marketing and business development in the energy supply industry will be a benefit to Troo as he will enhance its sales pipeline.