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KPMG has been appointed to lead UrbanChain’s £50m series B fundraising round.
With 10x revenue growth in the last 12 months UrbanChain says new funding will continue to deliver exponential growth in the UK.
The company also believes it will enable its proven model to be rolled out internationally, including the US and Europe.
The KPMG Series B appointment comes days after Deloitte named UrbanChain third fastest growing UK tech company, with 8.810% over the past three years.
Somayeh Taheri, founder and CEO, said: “Our growth during 2024 from £2.5m to £25m has been profitable – but this is just the beginning. UrbanChain is the future of electricity markets and our partnership with a global firm like KPMG will ensure we are positioned to attract strategic investors who share our vision for a sustainable, decentralised energy ecosystem throughout the world.”
Backed by investors including leading European investment group Eurazeo, UrbanChain’s team has increased from 10 to 65, and will end the year with 75.
Patrick Molyneux, KPMG Acceleris Partner, venture fundraising for high-growth founders, added: “UrbanChain is a true Manchester and UK success story. They’re on a mission to change electricity markets. And we are delighted to support UrbanChain as they scale their operations and attract the investment needed to further their groundbreaking work in renewable energy. UrbanChain is a key player in the global shift towards renewable energy solutions, making them a compelling investment opportunity.”
