Rabobank provides growth funding to Scale-Up

The Rabobank Startup & Scale-Up team has provided 750K working capital to scale-up iwell. iwell is a Utrecht-based company that focuses on providing green (clean) energy battery packs for the residential market. Capital injection enables a rapid international expansion of the company.

iwell is dedicated to boost the energy transition as a residential battery market leader. By using the Cube battery systems, real estate owners are able to invest in sustainability while meeting their financial goals simultaneously. The company is specialized in peak shaving battery solutions for real estate owners and (fast) charging facilities for electric vehicles. The capital injection – provided by Rabobank, will be used to further increase the market position, while maintaining healthy cashflows.

Robbert Lut (Startup & Scale-Up banker) from Rabobank: “The technology of iwell fits very well with our ambition to contribute to the energy transition and is an important example of a Scale-Up that we would like to support with funding, knowledge and network.”

About Rabobank Startup & Scale-Up team
An innovative idea can be the driving force behind the economy or give an impulse to job creation. This is why Rabobank supports starting technology-driven entrepreneurs. The bank also regularly draws inspiration from the fresh new ideas introduced by these entrepreneurs to help shape the future of the banking industry.

About iwell
iwell is a Dutch manufacturer and developer of smart residential battery systems that supports over 50 large real estate companies with products and develop specific battery solutions for apartment buildings, such as (fast) charging stations. iwell aims for a cleaner and balanced energy system that remains cost-effective with their clients.

Jan Willem de Jong (Commercial Director) from iwell: “The investment by the Rabobank Startup & Scale-Up team helps us to manage our cash flow for bigger contracts with bigger clients. This is a very important enabler for our rapid growth. I am excited about the next steps we can take with the support from Rabobank, and can learn from their knowledge and experiences.”