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.
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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 2
| Date | Title | Description | Source |
| 29.04.2024 | Starling Bank's SaaS business can be bigger than the bank, s... | The youthful-looking boss of Starling Bank’s Software as a Service (SaaS) business has ruled himself... | tech.eu/20... |
| 14.02.2019 | OVO Receives Minority Investment from Mitsubishi | OVO, a Bristol, UK-based greentech company, received a minority investment from Mitsubishi Corporati... | finsmes.co... |