SaveMoneyCutCarbon, an e-commerce platform and energy savings consultancy, has secured £2.2m in funding.

The company, which is headquartered in Suffolk, received funding from London-based private investment house IW Capital.

SaveMoneyCutCarbon was founded in 2010 and works with businesses, organisations and homes to reduce their energy and water consumption and cut operating costs.

The company sells a variety of eco-friendly products on its online platform, such as LED lighting, water-saving taps and electric vehicle charging points.

This is the firm’s first external round of funding, having previously received financial backing from friends and family members. SaveMoneyCutCarbon said it will use the funding to increase brand awareness and fuel its regional expansion across the UK.

Mark Sait and Charlie Farr, co-founders of SaveMoneyCutCarbon, said: “We are pleased to welcome IW Capital as a shareholder. IW Capital and their portfolio of investors can add not only growth capital, but a range of sector and experience that can only further support us as we enter the next stage of our development.”

IW Capital has previously led funding rounds into a number of British scaleups, including WeSwap, BorrowMyDoggy and Brewhouse & Kitchen.

Tim Lawrence, investment director at IW Capital, said: “SaveMoneyCutCarbon is on path to becoming a digital one-stop-shop marketplace for energy, water savings and all things linked to sustainability, cleverly leveraging the best of two worlds – e-commerce and consultative project business.”

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