Investing: Octopus Energy raised a further £630m from existing shareholders
Octopus Energy has been valued at £6.2billion in another investment round.
The energy giant raised a further £630million from existing shareholders, including Japanese giants Origin Energy and Tokyo Gas, as well as former US vice president Al Gore’s Generation Asset Management.
This means its valuation has jumped 60 per cent since its last fundraising in December 2021.
The investment is a vote of confidence in the business, which is the UK’s second-largest energy retailer. Octopus recently bought Shell’s energy and broadband business, which brings its total customer base to 6.5m.
The company, which started as a challenger in 2016, is ramping up competition with Centrica-owned British Gas, Britain’s top energy supplier.
