Magnetar and DST inject £60m into 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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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom