4hundred
4hundred is a new breed of energy provider – it’s digital energy supply designed for people, by people:.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | - | |
| Total Funding | 000k | ||
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4hundred GmbH was a Munich-based energy startup established in January 2017 by co-founders Ilona Ludewig and Andrew Mack. The company positioned itself in the German market as a digital-first green electricity provider, aiming to simplify energy consumption for consumers.
The core of 4hundred's business model was to supply renewable energy directly to consumers, differentiating itself through transparency and digital convenience. It operated primarily through a smartphone application that allowed customers to monitor their energy usage and associated costs in real-time. The company's revenue model was based on selling energy at its cost price and adding a flat monthly service fee, a structure designed to be straightforward and fair. This approach was coupled with customer-friendly terms, such as contracts that could be canceled on a monthly basis, which contributed to it being named Germany's fairest renewable energy company by Focus Money in 2019.
After receiving an investment from OVO, a competitor, 4hundred's trajectory shifted significantly. In September 2019, the UK-based green energy supplier Octopus Energy acquired 4hundred for a reported £15 million, which included OVO's 55% stake. This acquisition marked Octopus Energy's first entry into the German market. Following the deal, 4hundred's team of 26 employees and its 11,000 customers were integrated into the Octopus ecosystem. Andrew Mack, co-founder of 4hundred, initially stayed on to lead the new entity, Octopus Energy Germany, which aimed to secure one million German customers by 2024 with an initial investment of €80 million from its new parent company. Subsequently, the 4hundred brand was fully absorbed and rebranded as Octopus Energy Germany.
Keywords: 4hundred, Octopus Energy Germany, Ilona Ludewig, Andrew Mack, green electricity, renewable energy provider, digital energy supplier, German energy market, energy startup, Munich startup, EnTech, customer-centric energy, transparent pricing, monthly cancellation, flat-fee model, smartphone energy app, Octopus Energy acquisition, OVO investment