What is Troo?
Founded in 2018 by Andrew and Rachel Richardson, Troo operates as a specialized energy broker designed to provide transparency in a traditionally opaque market. By offering businesses complete visibility into commission structures, the company differentiates itself through ethical brokerage practices and value-added services, including energy monitoring and bespoke efficiency consulting. The firm has demonstrated significant commercial momentum, maintaining a 90% customer retention rate and doubling its turnover annually for three consecutive years. This performance underscores its role as a critical partner for enterprises seeking to optimize utility expenditures and navigate complex energy procurement landscapes.
How much funding has Troo raised?
Troo has raised a total of $958K across 2 funding rounds:
Other Financing Round
$328K
Other Financing Round
$630K
Other Financing Round (2019): $328K with participation from North East Venture Fund
Other Financing Round (2022): $630K, investors not publicly disclosed
Key Investors in Troo
North East Venture Fund
A regional investment vehicle supported by the European Regional Development Fund and managed by Mercia, focused on fostering growth for high-potential businesses in the North East of England.
Mercia Asset Management
A prominent UK-based investment firm specializing in early-stage and growth-stage capital, providing strategic support to regional enterprises.
European Regional Development Fund
An institutional funding body dedicated to strengthening economic and social cohesion by investing in regional business development and innovation.
What's next for Troo?
The allocation of this recent financing is primarily earmarked for aggressive human capital development, with plans to onboard approximately 50 new employees within the next two quarters. This workforce expansion is essential to support the company's rapid scaling and to maintain the high service standards that have driven its historical growth. As Troo continues to disrupt the energy brokerage industry, the focus will likely shift toward further technological integration in energy monitoring and expanding its market share across the UK. By leveraging this strategic backing, the company is well-positioned to sustain its double-digit growth trajectory and solidify its reputation as a leader in business energy management.
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