Europe’s energy system has spent years weighed down by rising prices, outdated infrastructure, and a shortage of consumer-first innovation. Into this stagnation stepped Fuse Energy, a London-based challenger founded in 2022 by former Revolut executives Alan Chang and Charles Orr.
In just three years, the company has transformed from an ambitious newcomer to one of Europe’s fastest-growing energy suppliers, now raising fresh capital at a striking $5 billion valuation, only five months after becoming a unicorn.
A new kind of energy supplier
Fuse entered the UK market as the first new residential electricity provider to launch after the energy crisis, an era when households were battered by soaring bills and collapsing suppliers. The founders set out to rebuild the system from scratch, promising cheaper, cleaner, and more predictable power for ordinary families.
The value proposition resonated. Fuse’s model helps households save up to £200 a year, while offering transparency and ease of use in an industry where customer experience rarely comes first. What started as a bold idea quickly scaled into a national movement.
A steep growth in utilities
Fuse’s growth curve looks more like a breakout fintech than a utility. It took nearly two years to secure its first 50,000 customers, but once momentum hit, the acceleration was explosive. In August, the company leapt from 50,000 to 100,000 customers in less than a month, crossing 150,000 only weeks later.
That surge pushed the company’s ARR from $100 million to $300 million within months, and revenues grew 7x year-on-year in Q3 2025. Backed by investors such as Lowercarbon Capital and Balderton, Fuse’s pace suggests a category-defining shift rather than a short-term spike.
From fintech lessons to energy revolution
The founders Chang and Orr brought their Revolut instincts into an industry overdue for reinvention. At the fintech giant, they learned how legacy sectors could be reshaped through speed, technology, and customer obsession. When they turned their attention to energy, they found a sector riddled with the same weaknesses: slow-moving incumbents, ageing infrastructure, and little incentive to innovate.
Fuse’s rapid rise shows what happens when those weaknesses are turned into opportunities. By modernising the customer experience and reshaping how energy is bought and delivered, the company has positioned itself as a genuine challenger to the old guard.
Now, at a prospective $5 billion valuation, Fuse Energy is redefining what a next-generation energy provider can be, and proving that the future of power in Europe may be built by startups.
