- triPica raised €12.4 million from TiLT Capital Partners to expand its footprint in Germany and Italy.
- The company provides telecom-style billing for mid-sized energy suppliers.
- The funding will support product development, sales and marketing, and building out the partner ecosystem.
Mathieu Horn previously ran a mobile operator. He now believes there is no real energy transition without a price signal and provides energy suppliers with billing software that incorporates that price signal on customers’ bills.
His Paris-based startup triPica just raised €12.4m in funding from TiLT Capital Partners, the energy transition investment platform of private equity group Sipare.
The company develops cloud software to manage customer records, subscriptions, billing, payments, and customer service for energy suppliers and telecom operators. The new funding will expand the business in Germany and Italy, grow the team, and add AI to customers’ billing and support systems.
“Every new energy offer, a dynamic tariff, a self-consumption contract, an EV charging plan, eventually becomes a billing problem. Suppliers have no shortage of ideas. What slows them down is a customer and billing system built for a market that no longer exists. We built triPica so that an operator can launch that offer in weeks. With TiLT, we will take it to more operators across Europe and use AI where they lose the most time today,” said Horn, co-founder and chief executive of triPica.
From mobile brand to energy billing
Prior to co-founding triPica with Walid Bounar and Christophe Ruzé in 2016, Horn founded Joe Mobile, one of the first virtual mobile operators, and led it from January 2012 to June 2015.
According to Horn, telecom and energy are more similar than you’d think. At triPica’s layer, he explained, a customer picks an offer from a catalogue, uses electricity or data, and is charged for what they consume. The energy transition, he said, is creating the challenges telecom already faced.
triPica offers a simple value proposition: it replaces old customer and billing systems with a single platform. This enables suppliers to get things like dynamic tariffs, solar self-consumption, EV charging and demand flexibility programmes live in weeks rather than months.
The customer base is split between telecom and energy. Digicel and CelcomDigi are also on the triPica platform, and Horn referenced Orange and Carrefour Mobile as brands triPica helped get off the ground. In the energy space, German utility Enercity switched from SAP’s IS-U to triPica and migrated hundreds of thousands of electricity customers, according to a triPica case study.
Why Kraken is not the target
Kraken is the benchmark here. Octopus Energy spun it out in a $1 billion round led by D1 Capital Partners, valuing the software business at $8.65 billion. The company reported contracted annual revenue of over €424.5 million for 2025, supports over 70 million accounts, and has a regional hub in Paris.
Horn describes Kraken as a very successful player, but not a direct competitor. He says triPica targets what he calls “the long tail” of mid-sized suppliers, with up to 1 million delivery points. Horn also points out triPica’s independence: “it’s always a bit complex when you’re an energy retailer to buy software from your direct competitor,” he says.
Other players in the space are also raising money. VertexOne closed a $131 million financing commitment in January 2025 from Runway Growth Capital and BC Partners Credit. Solarize raised funds in February 2026 led by Future Energy Ventures. Index Ventures led a €20 million investment in Nomos in September 2026.
Retailers offering dynamic tariffs are also raising capital. Rabot Energy closed a $50 million Series B for its offering, a dynamic tariff combined with a smart meter and a plug-in battery. Ostrom has raised €20 million from Eneco to offer dynamic tariffs directly to homes.
The market behind them is growing: the customer information systems market is expected to grow from $1.79 billion in 2025 to $3.26 billion by 2030. There’s also investor interest across the sector, as evidenced by our list of European energy tech startups to watch.
What TiLT is backing, and what is missing
TiLT is the only investor that takes minority stakes in growth-stage companies. Nicolas Lepareur, co-founder and managing partner at TiLT, said, “The energy transition will not be won on generation assets alone. It also depends on suppliers being able to offer the tariffs and services that make flexibility, self-consumption and electric mobility worth adopting for their customers. triPica removes a bottleneck that is too often overlooked: the systems behind those offers. Its ten years of production with demanding energy and telecom operators convinced us that it can become the European reference in this field.”
Horn outlined three key funding priorities. The first is product development, aimed at responding to specific market needs and, of course, integrating AI into the product. triPica has already built an MCP server that allows external AI agents to connect. The second is sales and marketing, focused on Italy, Germany, France, and the telecoms space to accelerate customer rollouts. The third is to build out a partner ecosystem.
Energy remains a local business. A platform designed for rapid launches must demonstrate effectiveness across borders against established vendors. Horn believes telecom’s experience with fast launches will appeal to regulated suppliers.
