Magnetar and DST inject £60m into Bulb
Magnetar Capital and DST Global have invested £60m in UK-based renewable energy provider Bulb.
The business will undertake a recruitment drive in its engineering and customers services teams, with the intention of expanding its total headcount from 200 to 250 by 2019.
According to a report by the Evening Standard, the investment round values the energy supplier at £400m.
The company has expanded rapidly since the start of 2017, growing its customer base from 15,000 to 670,000 during that time frame.
Company
Founded in 2015, London-headquartered Bulb is a consumer energy supplier that provides electricity from 100% renewable sources and gas, of which 10% is biomethane.
People
Bulb - Hayden Wood (CEO).
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