Press release -
Elvy raises SEK 1.7 billion for simple home energy
Elvy raises SEK 1.7 billion to give more homeowners electricity and heating at a fixed price. No investment of their own, no hassle.
Elvy started in 2023 with a simple idea: you should be able to have electricity and heating at home without making a big investment yourself, without an uncertain variable electricity bill and without the headache. Instead of the homeowner buying solar panels, a heat pump and a battery on their own, Elvy takes care of the whole package. We install the technology in the customer's home, connect it all up and optimise it with our own control system. The customer gets an energy subscription at a fixed price, for up to 15 years. Electricity and heating are included. No down payment.
“this should be so simple that you almost forget we exist. most people don't want to become energy experts, they just want a stable bill.”
The model launched broadly in 2024 and is already in place in hundreds of Swedish homes, from north to south. For many customers it means we cut their energy costs by roughly 10-20 percent - while the price stays fixed over time.
The investors include several well-known names in tech and energy. Giant Ventures has also invested in Swedish companies such as Syre and Flower. Essential Capital has backed the likes of Lyft and Delivery Hero. The list of owners also features names such as Knut Frängsmyr (former deputy CEO at Klarna), Jesper Wigardt (former head of communications at Klarna and Northvolt), Max Junestrand (founder of Legora), Johan Wachtmeister (former deputy CEO at SEB) and Christopher Stålberg (an early Einride figure) through his company X North.
Source: based on an interview and reporting in Di (February 2025) as well as Elvy's own communications.
Keep readingMore of what we're up to
- Press release -
Elvy signs framework agreement with Nordic Energy Partner
Elvy signs a framework agreement with installer Nepab to keep up the pace of installation as more Swedish homeowners choose the energy subscription.
- Press release -
Energy company secures SEK 70M, Klarna veteran new chair
Elvy, behind the world's first energy subscription, has raised SEK 70M. Daft Capital and Essential Capital lead the round. Knut Frängsmyr joins as chair.
- Press release -
Energy challenger Elvy raises SEK 5.5 billion
Elvy wants to solve Sweden's energy crisis. Now it has secured SEK 5.5 billion with finance company Scayl to help homeowners switch to modern energy systems.
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Homeowners no longer manage their own power and heat. They decided they had better things to do.
Curious to do the same?