What is Troo?
Founded in 2018 by Andrew and Rachel Richardson, Troo operates as a specialized energy broker designed to assist commercial entities in optimizing their utility expenditures. The company distinguishes itself through a radical transparency model, providing clients with full visibility into commission costs while simultaneously offering sophisticated energy monitoring tools and bespoke advisory services. By integrating technology-driven insights with personalized energy management, Troo enables businesses to not only reduce overhead costs but also improve their overall energy efficiency profiles.
The firm's market position is characterized by its aggressive growth strategy and its ability to disrupt legacy brokerage practices. By focusing on long-term client relationships rather than transactional volume, Troo has established a sustainable competitive advantage, evidenced by its impressive turnover growth and high client loyalty metrics. The company currently serves as a critical partner for businesses navigating the complexities of the modern energy market.
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 economic growth and job creation in the North East of England.
Mercia Asset Management
A proactive venture capital firm that specializes in supporting high-growth businesses across the UK through various stages of development.
European Regional Development Fund
An institutional funding body dedicated to strengthening economic and social cohesion by investing in regional development and innovation projects.
What's next for Troo?
With the deployment of this latest capital, Troo is set to embark on a significant human capital expansion, aiming to create approximately 50 new roles within the next six months. This hiring initiative is designed to support the company's ongoing scaling efforts and to bolster its service delivery capabilities as it continues to capture market share. The strategic focus remains on maintaining the current momentum of doubling turnover, leveraging the new investment to enhance its technological infrastructure and expand its reach within the business energy sector.
Looking ahead, the company is well-positioned to capitalize on the increasing demand for transparent and efficient energy procurement solutions. By scaling its workforce and refining its advisory offerings, Troo is poised to solidify its reputation as a leader in the energy brokerage space, potentially setting new industry standards for client-centric utility management.
