The Portuguese company Bling Energy has just announced the completion of a new €2 million seed investment round. The round was led by Joaquim Sérvulo Rodrigues, founder of Armilar Venture Partners, along with José de Mello family members, and included new investment from Lince Capital.
This funding was driven by the continuous success of Bling Energy’s subscription model, which eliminates the need for upfront investments and allows for significant savings from the start. This model has enabled clients to save up to €350k annually.
Joaquim Sérvulo Rodrigues and Vasco de Mello state: “We are pleased to re-invest inBling Energy, which from the start has shown strong potential in the energy transition sector. The company’s growth has exceeded expectations, and the team’s performance has been impressive, marked above all by dedication, professionalism, and continuous innovation. We are confident that, with the right strategy, this investment will contribute to a more sustainable future and a continued democratization of access to clean energy.”
The funds raised in this round will be used to support a new phase of growth for the company, focusing on three main areas: introducing new products and services, scaling up the company’s structure, and beginning to plan for future internationalization. Bling Energy plans to launch new products soon, such as a heat pump for efficient home heating, and to add more services to its existing offer, which already include solar panels, batteries, and electric vehicle chargers. By the end of the year, the team is expected to double in size to 30 employees, strengthening product development, business development, and operations. With this investment, Bling Energy aims to reach three thousand customers over the course of 2026.
Vasco Pereira Coutinho, CEO of Lince Capital, commented: “We are excited to be part of Bling Energy’s success story, as joining this project was a unique opportunity, especially at such a crucial time for the energy transition and the advancement of decentralized energy. Bling Energy is strategically positioned to take advantage of this growing market, and we are confident it will be a leader in this sector.”
Over the past year, Bling Energy’s growth plan has exceeded its initial goals, achieving its first 1 MWp with hundreds of customers across Portugal using photovoltaic energy. The turnkey business model, which requires no initial investment from consumers, has proven successful by doubling last year’s revenues within the first six months of 2024.
This rapid growth and success, coupled with a growing number of strategic partners such as Ageas Portugal and Longi, a leading multinational in solar panel manufacturing, further substantiates Bling Energy’s position as a key player in the energy transition sector in Portugal. This commitment to provide comprehensive energy solutions and become a trusted advisor in the energy sector is at the core of Bling Energy’s mission and vision.
Bernardo Fernandez, founder and CEO of Bling Energy, added: “This fundraising is an important milestone for Bling Energy, as it will allow us to scale our offer and provide the necessary investment for product and service innovation, which is essential for the company’s growth and consolidation. The vote of confidence from our investors since day one, and the entry of new institutional investors, reinforces our vision and market approach.”
Bling Energy’s ambition is to establish itself as a trusted advisor in the area of energy efficiency and consumption for its clients through a broad portfolio of products and services. The company’s long-term subscription model provides clients with easy access to a wide range of cost-effective energy solutions, extending beyond just solar panels.
Read the orginal article: https://www.eu-startups.com/2024/09/lisbon-based-bling-energy-raises-e2-million-to-make-solar-energy-more-accessible/
