Amsterdam’s econic bags €125M to accelerate the energy transition in the Netherlands and Germany

Amsterdam-based econic, a company that makes sustainable e-homes available for everyone, announced on Tuesday that it has raised €125M in a fresh round of funding. E-homes help avoid investment in energy systems and econic provides the necessary equipment for an e-home,  installed and serviced, for a fixed monthly fee.

CEO of econic, Joris Jonker, says, “In order to achieve the targets for CO2 reduction in the urban environment, at least a thousand homes in the Netherlands need to be made more sustainable every single day. That is an immense task, but this new investment round means that we can contribute significantly.”

The company says it will use the funds to make a significant contribution to accelerating the energy transition in the Netherlands and Germany.

E-homes for everyone

Founded in 2017 by Frits Verhoef and Joris Jonker, econic aims to accelerate the European energy transition and create a world without emissions, together. Across the Netherlands and beyond, the company’s aim is to turn every home into an e-home. This way, it can contribute to fostering a world that is better for everyone, including our planet.

econic believes increasing a home’s sustainability is wise, simple, and financially possible. Consumers, housing businesses, property developers, and contractors can easily improve sustainability through econic’s strategic alliances and digital platform.

The Amsterdam-based company also helps in installing the equipment including heat pumps, solar panels, batteries, and charging points, while offering the choice between purchasing or leasing the equipment. Organic and acquisitive growth has contributed to the company rapidly expanding its footprint in the Netherlands and Germany.

Currently, the company has over 150 employees. It has adjusted the composition of its board – the new econic board consists of Joris Jonker (CEO), Jaap Smid (CFO) and Age Reijenga (COO). 

Besides, the roles of former board members and co-founders, Jan-Willem van Wensem and Frits Verhoef, change. Jan-Willem van Wensem is stepping down from econic and joining the Advisory Board. Frits Verhoef takes on the role of Head of Impact.

Investors in this round

The round saw participation from Rabo Investments, Rinkelberg Capital, Meewind, Triodos, ASR, and Rabobank.

Rabo Investments (RI) is Rabobank’s captive investment franchise. Worldwide, the RI team has invested nearly €2B in startups, scale-ups, established companies, and funds. The firm is focused on helping innovative and sustainable companies active in the Food & Agri, Sustainability and Healthcare sectors.

Rinkelberg Capital Ltd. is the investment office of the founders of TomTom. The tech origins and entrepreneurial heritage of Rinkelberg are what drive their investing operations. The London-based team concentrates on property and credit in addition to growth capital equity transactions.