Fuse Energy Revenue, Valuation, Funding & Investors
Fuse Energy is valued at $5B as of June 2026, a 9.1x multiple on its last reported $550M revenue.
Last Fuse Energy valuation
$5B
Series B · Jun 2026
Last Fuse Energy funding round
$30M
Series B · Jun 2026
Fuse Energy revenue
$550M
Series B · Jun 2026
Key investors in Fuse Energy
Balderton Capital
Lowercarbon Capital
Lakestar
Accel
Collaborative Fund
Ribbit Capital
About Fuse Energy
Fuse Energy is a UK-licensed electricity supplier sourcing power from its portfolio of solar farms and onshore wind assets. Headquartered in London, it offers fixed-rate tariffs to residential customers with near real-time usage tracking via web and mobile apps, alongside integrations for smart meters and EV chargers.
Founded
2022
HQ
LondonWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$550M (Jun 2026)
Valuation
$5B (Jun 2026)
Fuse Energy Valuation
Fuse Energy is currently valued at $5B, based on its Series B in June 2026.
The $30M round included Balderton Capital, Lowercarbon Capital, Collaborative Fund and 20VC.
Fuse Energy's valuation has moved from $5B at its Series A in July 2025 to $5B in June 2026, across 3 priced rounds.
Fuse Energy valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Series B | $5B | 9.1x |
| Dec 2025 | Series B | $4.9B | 12.3x |
| Jul 2025 | Series A | $5B | 12.5x |
Fuse Energy Revenue
Fuse Energy's latest recorded revenue is $550M, as of its Series B in June 2026. At a $5B valuation, that implies a 9.1x revenue multiple.
Revenue grew from $400M in July 2025 to $550M in June 2026, while the revenue multiple moved from 12.5x to 9.1x.
Fuse Energy revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2026 | $550M | $5B | 9.1x | Series B |
| Dec 2025 | $400M | $4.9B | 12.3x | Series B |
| Jul 2025 | $400M | $5B | 12.5x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Fuse Energy Funding History
Fuse Energy has raised a total of $198M across 5 funding rounds.
Fuse Energy's first fundraising round was a $77M undisclosed-stage round in September 2022. The most recent completed round was a $30M Series B in June 2026.
Fuse Energy funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Series B | Balderton Capital; Lowercarbon Capital; Collaborative Fund; 20VC | $30M | $5B | Fuse Energy raised $70 million in a Series B led by Balderton Capital and Lowercarbon Capital, lifting its valuation to $5 billion. The company said the capital will support international expansion and the rollout of new products, with specific focus on markets including the U.S., Ireland, and Spain. Balderton first backed Fuse Energy at pre-seed in 2022, and prior funding included a 2022 round of $78 million with participation from Balderton, Lakestar, Accel, Creandum, Lowercarbon, Ribbit, BoxGroup, and strategic angels. Fuse Energy is a renewable energy and EV charging solutions provider founded by former Revolut executives. It is positioned as a vertically integrated energy company and has said it serves over 200,000 households in the UK. The latest funding follows earlier rounds as the company expanded its energy network and supply operations across international markets. |
| Dec 2025 | Series B | Balderton Capital (lead); Lowercarbon Capital (lead); Creandum; Rosberg Ventures; Latitude; Ribbit Capital; Future Positive Capital; Lakestar; QuantumLight; Accel; D Squared Capital | $69M | $4.9B | Fuse Energy is a London-based energy startup founded in 2022 by former Revolut executives Alan Chang and Charles Orr. The company operates as a vertically integrated energy provider, handling renewable site construction, power generation, trading, supply, installations, and hardware to deliver lower-cost power, averaging 10% below incumbents and saving UK households up to £200 annually. It supplies energy to 200,000 households in the UK and plans to launch in-house consumer hardware like micro-solar and battery solutions. In December 2025, Fuse Energy raised $70 million in an additional funding round led by Balderton Capital and Lowercarbon Capital, boosting its post-money valuation to $5 billion. Existing investors including Accel, Creandum, D Squared Capital, Future Positive Capital, Lakestar, Latitude, QuantumLight, Ribbit Capital, and Rosberg Ventures participated. This follows a $78 million seed round in 2022 and a $10 million raise at $1 billion valuation earlier in 2025. Funds will support international expansion into Ireland, Spain, and the US, scaling grids, and accelerating new products. As of December 2025, Fuse Energy reported $400 million in ARR, reflecting eightfold year-over-year revenue growth and achieving cash flow positivity before the end of its third year. The company captures significant market share among UK energy utility switchers and competes with incumbents and Octopus Energy, valued at $9 billion. Fuse aims to develop 1 TW of solar, wind, and storage projects globally while emphasizing efficiency in infrastructure buildout, such as 30% cheaper solar through in-house operations. |
| Jul 2025 | Series A | Balderton Capital (lead); Lowercarbon Capital (lead) | $10M | $5B | Fuse Energy is a London-based energy startup founded in 2022 by former Revolut executives Alan Chang and Charles Orr. The company vertically integrates the energy process, including renewable site construction, power generation, trading, supply, installations, and hardware, to deliver lower-cost power averaging 10% below incumbents and save households up to £200 annually. It supplies power to 200,000 households in the UK and develops its own renewable assets like solar power. Fuse Energy raised $70 million in a funding round led by Balderton Capital and Lowercarbon Capital, with participation from QuantumLight, boosting its post-money valuation to $5 billion. This follows a $78 million seed round in 2022 from Balderton, Lakestar, Accel, Creandum, Lowercarbon, Ribbit, BoxGroup, and angels. The new capital supports international expansion into Ireland, Spain, and the US, development of 1 TW of solar, wind, and storage projects, and launch of consumer hardware like micro-solar and battery solutions plus an intelligent home energy OS. As of December 2025, Fuse Energy achieved $400 million in ARR, growing 10x year-on-year and capturing 70% of UK energy utility switchers. It competes with incumbents and Octopus Energy, valued at $9 billion with 10 million customers. The company plans further scaling to 30 markets, gigawatts of solar deployment, and R&D into technologies like nuclear fusion. |
| Sep 2024 | Series A | Multicoin Capital (lead); Ryan Merket; Anatoly Yakovenko | $12M | - | Fuse Energy raised $12M in September 2024 led by Multicoin Capital with participation from Anatoly Yakovenko and Ryan Merket to support Project Zero, a renewable energy DePIN addressing energy coordination challenges through advanced metering and analytics. The company, founded in 2022 by ex-Revolut executives Alan Chang and Charles Orr, vertically integrates the energy process from renewable site construction and power generation to trading, supply, installations, and hardware to reduce costs and inefficiencies. Fuse aims to deliver power at prices 10% lower than incumbents, saving households up to £200 annually. In a later $70M Series B round led by Balderton Capital and Lowercarbon Capital, the company reached a $5B post-money valuation to fund international expansion into the US, Ireland, and Spain, develop 1 TW of solar, wind, and storage projects, and launch new products like a plug-and-play solar-battery kit and intelligent home energy operating system. Fuse Energy reported growing 10x year-over-year and capturing 70% of UK energy utility switchers prior to the Series B. |
| Sep 2022 | Undisclosed stage | Balderton Capital (lead); Lakestar (lead) | $77M | - | Fuse Energy is a London-based energy company founded in 2022 by former Revolut executives Alan Chang and Charles Orr. It operates as a vertically integrated energy provider, handling renewable site construction, power generation, trading, supply, installations, and hardware to reduce costs and inefficiencies, offering power at around 10% lower prices than incumbents and saving households up to £200 a year. The company aims to make energy lower cost and more abundant while scaling quickly with a focus on efficiency. In 2022, Fuse Energy raised $78 million (noted as $77.1 million in query) from Balderton Capital and Lakestar, with participation from Accel, Creandum, Lowercarbon, Ribbit, BoxGroup, and strategic angels. Balderton first invested at pre-seed in 2022. In late 2025, Fuse Energy announced an additional $70 million (or €59 million) in Series B funding led by Balderton Capital and Lowercarbon Capital, with participation from Ribbit Capital, Lakestar, Latitude, QuantumLight, Future Positive Capital, Creandum, Accel, Rosberg Ventures, and DSquared. This round boosted the company's valuation to $5 billion (€4.2 billion). The funds are earmarked for international expansion into markets like the U.S., Ireland, and Spain, scaling grids, launching supply operations, developing 1 TW of solar, wind, and storage projects, introducing a plug-and-play solar-battery kit, and rolling out an intelligent home energy operating system. Fuse Energy recently launched The Energy Network, rewarding customers for off-peak usage, with public rollout planned for January 2026. Investors highlight the company's potential to redefine Europe's energy system amid rising demand from AI and economic growth, praising its vertical integration, efficiency, and execution. |
Who has invested in Fuse Energy?
16 investors have backed Fuse Energy across its funding rounds, including Balderton Capital, Lowercarbon Capital, Lakestar, Accel, Collaborative Fund and Ribbit Capital.
Lead investors include Balderton Capital, Lowercarbon Capital, Multicoin Capital and Lakestar.
Fuse Energy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| London | 4 | Lead | Sep 2022 | |
 Jackson, MS | 3 | Lead | Jul 2025 | |
 Zurich | 2 | Lead | Sep 2022 | |
| Austin, TX | 1 | Participant | Sep 2024 | |
 Stockholm | 1 | Participant | Dec 2025 | |
 Tel Aviv | 1 | Participant | Dec 2025 | |
| Austin, TX | 1 | Lead | Sep 2024 | |
| United Kingdom | 1 | Participant | Dec 2025 | |
| San Francisco, CA | 1 | Participant | Dec 2025 | |
 Paris | 1 | Participant | Dec 2025 | |
| New York City, NY | 1 | Participant | Jun 2026 | |
| London | 1 | Participant | Dec 2025 | |
| London | 1 | Participant | Jun 2026 | |
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Start Free TrialFuse Energy Competitors
Fuse Energy competitors include listed companies like Enphase Energy, CSI Solar, Jinko Solar and Premier Energies, and private ones like Northvolt and 1Komma5°.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $1.5B | $227M | $4.8B | 3.5x | |
 China | Publicly listed | $6B | $801M | $4.4B | 1.0x | |
| China | Publicly listed | $9.8B | $35M | $5.7B | 0.9x | |
 India | Publicly listed | $814M | $258M | $4.1B | 4.0x | |
| Stockholm | Private | - | - | $12B | - | |
 Germany | Private | $598M | - | $1.4B | - |
Fuse Energy Public Comps
Fuse Energy is still privately-owned, but its public comps include HYC Technology Co., Crystal-OpTech, Castech, J-Power, SOLV Energy, Enphase Energy, Enel Generacion Chile, Gentex, Tohoku Electric Power and Hubei Energy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $334M | $40M | 14.7x | - | 121.9x | - | |||
| $1B | $273M | 4.8x | 4.2x | 18.2x | 16.3x | |||
| $173M | $65M | 28.2x | - | 75.1x | - | |||
| $7.6B | $1.6B | 2.1x | 1.9x | 10.1x | 10.6x | |||
| $2.5B | $284M | 2.1x | 1.5x | 18.6x | 11.8x | |||
| $1.5B | $227M | 3.0x | 3.5x | 19.4x | 12.5x | |||
| $3.1B | $884M | 1.6x | 1.7x | 5.7x | 5.4x | |||
| $2.5B | $565M | 1.8x | 1.7x | 8.0x | 7.2x | |||
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Common questions about Fuse Energy
| When was Fuse Energy founded? | Fuse Energy was founded in 2022. |
| Where is Fuse Energy headquartered? | Fuse Energy is headquartered in London, United Kingdom. |
| Is Fuse Energy publicly listed? | No, Fuse Energy is a private, VC-backed company. |
| What is Fuse Energy's valuation? | Fuse Energy was last valued at $5B in its Series B in June 2026. |
| How much funding has Fuse Energy raised? | Fuse Energy has raised $198M across 5 funding rounds. |
| What was Fuse Energy's last funding round? | Fuse Energy's last funding round was a $30M Series B in June 2026. |
| Who are Fuse Energy's investors? | Fuse Energy's investors include Balderton Capital, Lowercarbon Capital, Lakestar, Ryan Merket, Creandum, Rosberg Ventures, Multicoin Capital, Latitude, Ribbit Capital, Future Positive Capital and 6 others. |
| What is Fuse Energy's revenue? | Fuse Energy's latest recorded revenue is $550M (June 2026). |
| What is Fuse Energy's revenue multiple? | Fuse Energy's latest valuation implies a 9.1x revenue multiple ($5B valuation on $550M of revenue). |
| Which companies are comparable to Fuse Energy? | Companies comparable to Fuse Energy include Enphase Energy, CSI Solar, Jinko Solar, Premier Energies, Northvolt and 1Komma5°. |
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