Changing the electricity market: our investment in Lucera
Since the liberalization of the Spanish energy sector in 1997, the country has seen many new companies come to market, most of them with the objective of changing an industry where the status quo has prevailed for decades.
And today we’re happy to announce that we’ve invested in the one that we truly believe will achieve this! We think Valencia-based Lucera will become a market leader based on some unique traits:
- Use of 100% renewable energy
- A clear focus on user experience and design
- Total transparency and being upfront with the consumer
These are aspects that consumers have been demanding for quite some time, and that today are enjoyed by Lucera’s 4,000+ customers.
As we have said many times before, at K Fund we believe in market transparency -including in the market that we operate in, the Spanish Venture Capital industry- and in how that can offer great advantages to the players that operate in it. The case of Lucera and the electricity market is a great example of this.
With Lucera, consumers pay a fair price for the energy they use at their homes, as the company’s only profit is a monthly fee of €3.9. This allows Lucera to focus on achieving one main objective: to allow consumers to pay less for the electricity the consume.
Since launching, Lucera’s clients have saved hundreds of thousands of euros in their energy bills, by simply helping consumers adapt their contracts to their real needs and thus avoiding fraudulent discounts and abusive prices.
And they’ve done this thanks to the great work of Lucera’s team… thank you Emilio, Richad, David, Josep. What you’ve achieved up to this point is amazing and we can’t wait to help you improve even more and change this industry.
For these and many other reasons we’ve invested in Lucera along with other investors such as Daruan VC and Danka Capital. Because the market opportunity is huge and because we believe that helping consumers save money is priceless.
If you have yet to check your energy bill, you should do it as soon as possible! You can do it at any time with Lucera’s savings calculator. And if you want to start paying a fair price for your energy, sign up here.
