OVO launched in 2009 as a challenger brand to the dominant ‘Big Six’ energy suppliers with a clear focus on customer service, green energy and technology leadership. With valuable knowledge gained from the team’s previous backing of energy comparison service uSwitch, Mayfair was ideally positioned to help accelerate management’s ambitious growth plans.
9
9X
As OVO’s first external equity investment partner, Mayfair has supported the company’s meteoric rise. By February 2019, just a decade after launch, the business was valued at £1 billion when Mitsubishi Corporation made a £200m investment. Soon after this, OVO became the second-largest home energy provider in the UK when it acquired SSE’s retail business.
9
9X
As OVO’s first external equity investment partner, Mayfair has supported the company’s meteoric rise. By February 2019, just a decade after launch, the business was valued at £1 billion when Mitsubishi Corporation made a £200m investment. Soon after this, OVO became the second-largest home energy provider in the UK when it acquired SSE’s retail business.
Location: United Kingdom, England, Bristol
Investors 1
| Date | Name | Website |
| - | Mayfair Eq... | mayfairequ... |
Mentions in press and media 5
| Date | Title | Description |
| 26.06.2024 | The Hidden Catalyst to Scaling an e-Wallet that Serves 200 Million Users in Indonesia | - |
| 17.06.2024 | SoftBank-backed ZA Tech raises $35m, rebrands as Peak3 | FintechInvestmentsNews Elyssa Lopez · 7h ago · 1 min readSoftBank-backed ZA Tech raises $35m, rebrands as Peak3 Ian Lee (second from left), general manager for Asia Pacific at Peak3, on stage at Insurtech Connect in Singapore / Image credit... |
| 27.05.2024 | Billions Lost to Fraud Despite Efforts, APAC Fintechs Grapple with Rising Threats | - |
| 29.04.2024 | Starling Bank's SaaS business can be bigger than the bank, says its boss, who has no ambitions to be a future Starling CEO | The youthful-looking boss of Starling Bank’s Software as a Service (SaaS) business has ruled himself out as a future CEO of one of the UK’s most famous challenger banks. Sam Everington, the 37-year-old CEO of Engine, didn’t apply for the jo... |
| 14.02.2019 | OVO Receives Minority Investment from Mitsubishi | OVO, a Bristol, UK-based greentech company, received a minority investment from Mitsubishi Corporation. With the deal, whose amount was not disclosed, Mitsubishi acquired a 20% stake in the business. The company intends to use the funds to ... |