Rebel Energy raises more than £220,000 from Crowdfunding campaign- Could other Energy suppliers do the same?

What is crowdfunding?

Have a clear mission statement

Rebel Energy’s crowdfunding campaign was no doubt helped by the company having a clear mission.

It’s goal of ‘Transforming lives, by lifting people out of fuel poverty and creating a business that can change society for good in an impactful and sustainable way. They care about people and the planet.” It’s a strong message and one that in the current climate a popular one.

Energy suppliers with a clear mission statement will also find it easier to market to consumers as they will know exactly what sort of people they want to reach. With more and more attention turning to the issue of renewable energy and growing levels of poverty created by the Covid-19 pandemic Rebel’s statement is one that will appeal.

Rebel Energy also found success by offering nearly 2.5% equity in the business to raise £150,000 over a month long period and within a week the Crowdfunder had attracted over 270 investors.

Rebel Energy CCO and co-founder Penelope Hope said: “We’re absolutely delighted with the support that we’ve received from the Crowdcube community, both financially and otherwise. It’s particularly thrilling to see investors wholeheartedly engage with our mission to make renewable energy accessible to all.

“We note a growing trend of awareness around the root causes of environmental decline – injustices such as lack of education and employment opportunities or inadequate housing provision. Our intention is to spearhead a movement of change that addresses these injustices, paving the way for a more equitable and sustainable future.”

Also read: How to Improve Consumer Trust in Energy Suppliers?

What will the money be used for?

Many energy suppliers struggle with marketing themselves and cleverly Rebel has found a way around this by using the funds raised by the crowdfunding campaign for marketing and advertising before the company officially launches.

The supplier has also said that the funds will be used to help it set up its customer service capability which it said will utilise AI technology.

“This is the first time an energy company has gone to market with a joined-up social and environmental mandate, committing to affordable green energy tariffs for everyone.

“We’re setting out to show what an ethical and affordable energy supplier looks like in the UK, one that not only champions renewable energy, but also helps address fuel poverty and protects the most vulnerable people in our society,” said Dan Bates, CEO and co-founder of Rebel Energy.

Also read: Top Tips to Increase Energy Company Satisfaction

Market research

Rebel Energy have clearly done their research and are also offering consumers other things that are likely to be very popular such as weekly direct debits for the most vulnerable customers, investment in biodiversity programmes and offering 100% renewable electricity.

Other energy suppliers have also begun to offer such incentives but with Rebel set to enter the market this summer competition in the already highly competitive market will heat up even further.

Also read: How can smaller energy suppliers be competitive?

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Further Reading

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